(WO) – SLB reported sequential growth in every region in the third quarter, led by a gradual recovery in the Middle East, growth in North American land and broader international deepwater activity. CEO Olivier Le Peuch said the company sees “a very compelling outlook for 2027.”
“In the Middle East, our business grew 13% sequentially despite late-quarter disruptions,” Le Peuch said. Outside the Middle East, higher U.S. land activity supported growth, and ChampionX posted its highest quarterly revenue since SLB acquired it. SLB OneSubsea won a steady flow of new international contracts, adding to backlog and improving revenue visibility into 2027.
SLB said customers are increasingly focused on production optimization, recovery enhancement and long-term asset performance as operators prioritize returns from existing fields. It also pointed to growing use of digital and AI-enabled workflows to improve field performance.
“Our international outlook continues to strengthen, driven by deepwater momentum across Latin America, Europe, Sub-Saharan Africa and Asia, underscored by recent SLB OneSubsea contract awards. Furthermore, international diversification is accelerating as major U.S. shale operators expand abroad and partner with national oil companies across global basins,” Le Peuch said. He also cited significant activity increases in Venezuela, with further upside expected as Middle East activity recovers.
Outside its oilfield business, SLB’s Data Center Solutions revenue rose 23% from the previous quarter, driven by demand from AI and high-performance computing customers and by expansion into Asia.
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