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Events / OneSubsea Wins CNOOC Kaiping 18-1 EPC
Business EPC contract

OneSubsea Wins CNOOC Kaiping 18-1 EPC

Analysis based on 9 articles · First reported Mar 17, 2026 · Last updated Mar 23, 2026

Sentiment
30
Attention
2
Articles
9
Market Impact
Direct
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Market Impact

The contract award to SLB===OneSubsea by China National Offshore Oil Corporation (CNOOC) is a positive development for the energy services sector, particularly for companies involved in subsea production systems. It signals continued investment in deepwater field developments and could lead to increased demand for standardized subsea technologies.

Oil and gas Energy services
Event Summary

SLB===OneSubsea, a joint venture of SLB, Aker Solutions, and Subsea 7, has been awarded a multi-well, integrated engineering, production, and construction (EPC) contract by China National Offshore Oil Corporation (CNOOC). This contract covers 20 wells for the deepwater Kaiping 18-1 field development in the South China Sea. SLB===OneSubsea will deliver standardized subsea production technology, including dual electric submersible pumps, gas lift and gas injection horizontal trees, manifolds, connectors, and control systems, along with installation and commissioning support. The project emphasizes efficiency gains through standardized systems and collaboration with regional partners for in-country manufacturing and supply-chain capabilities.

Key Actions
100 China National Offshore Oil Corporation awarded multi-well integrated EPC contract SLB===OneSubsea
90 SLB===OneSubsea will deliver standardized subsea production technology China National Offshore Oil Corporation
Entities Involved
subs
SLB===OneSubsea
SLB===OneSubsea was awarded a multi-well, integrated EPC contract by China National Offshore Oil Corporation (CNOOC) for the Kaiping 18-1 field development. This contract highlights the adoption of its standardized subsea systems and is a significant business win.
Importance 100 Sentiment 40
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China National Offshore Oil Corporation
China National Offshore Oil Corporation (CNOOC) awarded a key EPC contract to SLB===OneSubsea for its deepwater Kaiping 18-1 field development. This partnership aims to streamline execution and support effective delivery for CNOOC's offshore operations.
Importance 90 Sentiment 10
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SLB
SLB's joint venture, SLB===OneSubsea, secured a significant EPC contract from China National Offshore Oil Corporation (CNOOC), which is expected to contribute positively to SLB's revenue and market position in subsea production systems.
Importance 80 Sentiment 20
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Aker Solutions
As a joint venture partner in SLB===OneSubsea, Aker Solutions benefits indirectly from the EPC contract awarded by China National Offshore Oil Corporation (CNOOC), which could positively impact its overall business outlook.
Importance 50 Sentiment 10
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Subsea 7
Subsea 7, as a joint venture partner in SLB===OneSubsea, is expected to see positive implications from the EPC contract secured with China National Offshore Oil Corporation (CNOOC), enhancing its market presence.
Importance 50 Sentiment 10
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Mads Hjelmeland
Mads Hjelmeland, CEO of SLB===OneSubsea, commented on the significance of the contract, emphasizing the efficiency gains from standardized subsea systems.
Importance 30 Sentiment 10
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PTT Exploration and Production
PTT Exploration and Production Public Company (PTTEP) was mentioned as a previous client of SLB===OneSubsea, having awarded an EPC contract for a deep-water project offshore Malaysia, indicating SLB===OneSubsea's broader regional presence.
Importance 10 Sentiment 5
+ 1 more entities View on Dashboard
Relationships
SLB related ↔ SLB===OneSubsea
Aker Solutions related ↔ SLB===OneSubsea
Subsea 7 related ↔ SLB===OneSubsea
Mads Hjelmeland related ↔ SLB===OneSubsea
SLB related ↔ China National Offshore Oil Corporation
SLB===OneSubsea related ↔ China National Offshore Oil Corporation
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