Offshore Energy · March 11, 2026 · 1 min read

OneSubsea gets its third contract with PTTEP in 12 months

Analysis

OilCyprus Editorial

OneSubsea, a joint venture between SLB, Aker Solutions, and Subsea7, has been awarded its third contract in 12 months by PTTEP for a deepwater project offshore Malaysia. This signifies a continued strong relationship between OneSubsea and PTTEP and highlights ongoing investment in deepwater exploration and production in Southeast Asia.

Key Facts

OneSubsea is a joint venture backed by SLB, Aker Solutions, and Subsea7.
The contract is for a deepwater project offshore Malaysia.
This is OneSubsea's third contract with PTTEP in the last 12 months.

Market Impact

This contract award demonstrates continued investment in deepwater projects, particularly in Southeast Asia. It benefits OneSubsea and its parent companies, and also signals confidence in the region's offshore potential. The award could also stimulate further deepwater exploration and development activity in the area, potentially leading to increased production and reserves.

Why This Matters for Cyprus

This deal indicates a positive trend for deepwater activity in Southeast Asia and the strengthening of key partnerships between service companies and national oil companies.

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