What is your current assessment of the industry across West Africa, and SLB’s impact?

We constantly examine the dynamics of the West African market, particularly in Nigeria, where there is immense potential. Nigeria possesses three times the oil reserves of Brazil, yet it operates only a fraction of the rigs in comparison. This disparity highlights the significant opportunity for increased activity in the country. Nonetheless, there is a positive momentum shift, with FIDs being greenlit at the end of 2024 and even more expected in 2025 and 2026. This signals a turning point for the region, and SLB is well-positioned to support the wave of new developments.

One of the most significant projects in West Africa is Eni's Baleine development in Côte d'Ivoire, which is Africa's first net-zero upstream project. A significant achievement in this project was the implementation of digital drilling solutions, which catalyzed an impressive penetration rate and resulted in significant cost savings. Meanwhile, our flare-reduction technologies significantly reduced CO₂ emissions, aligning with the industry and country’s sustainability objectives.

Beyond Côte d'Ivoire, SLB is involved in multiple high-profile projects across Ghana, Equatorial Guinea, Nigeria, Mauritania, Senegal and Cameroon.

What services does SLB offer in West Africa, and what trends are shaping demand?

We have four main divisions. Well Construction focuses on efficiently drilling and accurately placing oil and gas wells, providing expertise in instrumentation, software optimization, and automation. This division ensures that operators can safely and efficiently access hydrocarbons, leveraging our products and services ranging from drilling to well construction measurement, drilling fluids, rigs and equipment, cementing services, and more. 

Reservoir Performance encompasses services such as formation evaluation, well testing, stimulation, and well intervention, which help operators maximize hydrocarbon recovery from their reservoirs. 

The Production Systems division unlocks onshore and offshore subterranean assets and sustain production—delivering advanced completion and artificial lift solutions, subsea production technologies for enhanced well production, electric production systems that reduce infrastructure and energy requirements while maximizing hydrocarbon recovery, metering and automation systems, production valves, safety systems, production chemistry products and services, surface production equipment such as Wellheads and Trees, and more. 

Our fourth division is Digital and Integration. A key trend shaping demand in the region is the increasing adoption of digital solutions. Operators actively seek AI-driven field modeling, cloud-based data management, and automation technologies to improve operational efficiency while reducing costs. Digital advancements allow for better reservoir understanding, optimized production strategies, and enhanced decision-making capabilities. 

What is SLB's role in supporting Nigeria's ambition to increase oil production?

SLB is key to Nigeria's goal of increasing oil production by 1 MMb/d. With representation in the steering committee, we are actively working with industry stakeholders to implement strategies that will drive this objective. Achieving this goal requires a structured, phased approach that includes short-term, mid-term, and long-term initiatives. In the short term, well reactivations and interventions will be crucial in bringing shut-in wells back online, providing an immediate boost to production. In the mid-term, infill drilling campaigns will significantly maximize the recovery of existing fields. In the long term, Enhanced Oil Recovery (EOR) techniques will play a critical role in sustaining production from mature reservoirs. Additionally, AI-driven reservoir modeling and digital planning tools will enhance efficiency and ensure sustainable production growth. SLB's integrated approach ensures that projects can be executed more efficiently, reducing costs and accelerating time to first oil. By combining technology, expertise, and strategic planning, SLB is committed to supporting Nigeria in achieving its production targets.

What is your 12-month outlook for SLB in West Africa?

We remain focused on our core values: people, technology, and performance. Our workforce is our greatest asset, and we are committed to attracting, retaining, and developing top talent in the region. In Nigeria, where over 90% of our employees are local, we continue to invest in skills development to strengthen our capabilities. Service excellence and cost efficiency will remain core pillars of our operations, ensuring flawless execution in delivering value-driven solutions and initiatives to our customers. Additionally, we will expand our technology offerings, particularly in AI and digitalization, to enhance operational efficiency across the energy sector. As activity in West Africa grows, SLB will remain a leader in driving innovation and delivering solutions that shape the future of the region's energy industry.