Schlumberger's Trading Volume Drops 31.15% Ranking 231st Despite Securing Major BP Contract

On May 7, 2025, Schlumberger (SLB) experienced a significant decline, with its trading volume dropping by 31.15% to 4.06 billion, ranking 231st in the day's market activity. The stock price fell by 0.24%, marking the third consecutive day of decline, with a total decrease of 3.54% over the past three days.

Schlumberger's OneSubsea division, in collaboration with Subsea7, has secured a substantial engineering, procurement, construction, and installation (EPCI) contract from BP for the Ginger project offshore Trinidad and Tobago. This project is the first to be awarded under the global framework agreement between BP and the Subsea Integration Alliance, which includes SLB OneSubsea and Subsea7.

The Ginger project involves the delivery of four standardized vertical monobore subsea trees and tubing hangers, optimized for speed of delivery and installation. Additionally, SLB OneSubsea will provide the first high-integrity pressure protection system (HIPPS) manifold in the region, enhancing safety, efficiency, and environmental benefits. Subsea7 will contribute a diver-installed tie-in system, a flexible production flowline, and associated infrastructure.

This project is part of BP's ten major initiatives expected to commence production between 2025 and 2027. The Ginger development aims to produce an average of 62,000 barrels of oil equivalent per day at its peak, with four subsea wells and subsea trees tied back to the existing Mahogany B platform. The first gas is anticipated in 2027.