SLB OneSubsea Wins Multiple Contracts for Eni's Baleine Project

SLB's OneSubsea unit has been awarded an EPC (engineering, procurement, and installation) contract from Eni for Phase 3 of the Baleine deepwater development offshore Cote d'Ivoire. The scope covers subsea production systems for 13 wells, including subsea trees, umbilicals, manifolds, multiphase flowmeters, and control systems, along with commissioning and life-of-field support.

Baleine is described as the largest hydrocarbon discovery ever made in Cote d'Ivoire and one of the more significant recent offshore developments in sub-Saharan Africa. Eni made its final investment decision on Phase 3 in May 2026, and the expansion is expected to lift total field production from roughly 60,000 to 150,000 barrels of oil per day, with associated gas output rising from about 80 to 200 million cubic feet per day.

The award adds to SLB OneSubsea's existing footprint on the project and follows a separate subsea contract TechnipFMC secured for a different scope of the same development, underscoring how Eni has split the Baleine buildout across multiple contractors. For SLB, continued wins on a marquee West African deepwater project could support its subsea and production systems backlog, though the company's earnings exposure to any single field development remains modest relative to its overall portfolio, and execution risk on a multi-year offshore buildout of this scale is worth watching.

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