Global energy technology company SLB announced that its OneSubsea joint venture has entered into an agreement to acquire the subsea business of Norway-based Envirex Group. 

As a result of the transaction, Envirex Group and their subsea business would become part of SLB OneSubsea.

The proposed acquisition would bring the specialised technologies and R&D strengths of Envirex Group into SLB OneSubsea's global technology portfolio.

The transaction is expected to accelerate the deployment of new technology solutions, while expanding the range of innovative services available to customers worldwide at a time when demand for efficient, next-generation subsea solutions continues to grow.

"This agreement represents a natural next step in a collaboration that has developed over more than a decade,” said Mads Hjelmeland, chief executive officer of SLB OneSubsea. “Once completed, the transaction would strengthen our technology portfolio and enhance the value we deliver to our customers."

The transaction is expected to close in the first half of 2026, subject to regulatory approvals and other customary closing conditions. -OGN/TradeArabia News Service