Competition authorities have approved Subsea7, Aker Solutions and SLB’s plans to form a joint venture.  

subsea 7

Following clearance by antitrust authorities in Brazil, all regulatory approvals/clearances required to close the transactions have been obtained, including those needed in Angola, Mozambique, Australia, Norway, the UK and USA.   

The parties will now continue work to satisfy the remaining conditions for closing and aim to close as early as possible in the fourth quarter of 2023. 

The joint venture, the parties said, will help customers unlock reserves, reduce time to first oil, lower development costs, and achieve decarbonisation goals.