SLB Hydrogen Initiatives for 2025: Key Projects, Strategies and Partnerships

SLB’s Hydrogen Gambit: From Technology Bets to Building a Decarbonized World

SLB is navigating the energy transition by making calculated, large-scale moves into the hydrogen and decarbonization sector. An analysis of its activities reveals a deliberate strategic evolution, shifting from a period of technology diversification toward a commanding position in building the foundational infrastructure for a low-carbon future. The company is no longer just placing bets on hydrogen; it is actively constructing the ecosystem where hydrogen can thrive, with a clear emphasis on carbon capture and storage (CCS) as the critical enabler.

Industry Adoption: A Pivot from Exploration to Infrastructure

Between 2021 and 2024, SLB’s strategy was characterized by building a diversified portfolio of hydrogen-related technologies. This exploratory phase involved forming ventures like Genvia to develop high-efficiency solid oxide electrolyzers, investing in novel clean hydrogen production with ZEG Power, and piloting end-use applications like hydrogen fuel cells for drilling rigs with Hyzon Motors. This wide-ranging approach, covering green and blue hydrogen pathways and even niche applications, demonstrated an effort to secure multiple footholds in an emerging market. The commercial offerings were foundational, including specialized valves and process modeling software, aimed at supporting the early stages of hydrogen project development.

Beginning in 2025, a significant inflection point emerged. SLB’s focus sharpened from technology acquisition to the deployment of large-scale, enabling infrastructure. While partnerships with technology developers like Genvia and John Cockerill continued, the headline activities pivoted to massive CCS projects. The agreement with Aramco and Linde to develop a world-scale CCS hub in Saudi Arabia, coupled with major contracts for the Northern Endurance Partnership and Northern Lights projects in the UK and North Sea, signals a strategic decision. SLB is now focused on building the essential infrastructure that makes large-scale blue hydrogen production commercially viable. The launch of its Sequestri integrated carbon storage solutions in June 2025 solidifies this pivot from a technology partner to a full-service infrastructure developer. This shift indicates a belief that the primary barrier to hydrogen adoption is no longer a lack of production technology, but a lack of bankable, large-scale decarbonization infrastructure.

Investment: Seeding Technology for a Green and Blue Future

SLB’s investments have been targeted and strategic, aiming to secure access to key hydrogen production technologies. The company has acted as a lead investor to scale up promising partners, providing the capital necessary to move from pilot stages to industrial manufacturing. These financial commitments underscore a dual-track strategy, supporting both green hydrogen through electrolyzers and innovative blue hydrogen pathways.

Table: SLB Hydrogen-Related Strategic Investments

Partnerships: Weaving a Global Decarbonization Web

SLB’s partnership strategy has evolved from technology-centric collaborations to building broad coalitions for regional and industrial-scale deployment. The recent focus on CCS and digital integration highlights a sophisticated approach to creating a comprehensive service ecosystem. By aligning with national energy companies, industrial gas giants, and technology specialists, SLB is positioning itself at the center of the global decarbonization movement.

Table: SLB Hydrogen and Decarbonization Partnerships

Geography: From Global Scouting to Concentrated Deployment

SLB’s geographic focus has undergone a clear maturation. The 2021-2024 period was marked by a global search for technology and market entry points, with partnerships spanning Europe (Genvia in France, ZEG in Norway), North America (Hyzon in the US), and nascent market development in Africa (Namcor in Namibia). This widespread activity was essential for building a diverse technology and partnership base.

Since 2025, the map has been redrawn around major industrial and energy hubs poised for significant decarbonization investment. The concentration of activity in the UK/North Sea (Northern Endurance Partnership, Northern Lights) and the Middle East (Aramco/Linde CCS hub in Saudi Arabia) is no accident. These regions offer a combination of strong government support for CCS, existing energy infrastructure, and large industrial clusters that represent both a source of CO2 and a future market for clean hydrogen. This geographic consolidation signals a move from exploring possibilities to deploying capital in markets where large-scale hydrogen economies can become a reality first.

Technology Maturity: Advancing from Venture to Commercial Scale

The evolution of SLB’s portfolio demonstrates a clear progression in technology maturity. The strategy has advanced from incubating new ventures to deploying commercial, industrial-scale solutions.

In the 2021–2024 timeframe, the focus was on building a pipeline of next-generation technologies. This included forming the Genvia venture (2021) to advance high-temperature electrolyzer R&D and investing in ZEG Power (2022) to help scale its novel production technology from a proven concept. At the same time, SLB piloted emerging applications, such as the 2022 collaboration with Hyzon Motors to test fuel cells on drilling rigs. The commercial offerings were mature but targeted supporting roles, such as specialized valves and process modeling software.

The period from 2025 to today is defined by scaling and commercialization. The technologies incubated earlier are now moving toward mass production, evidenced by Genvia’s partnership to scale its technology and John Cockerill’s €116 million capital raise to expand electrolyzer manufacturing. The most significant validation point is the launch of SLB’s Sequestri carbon storage solutions in June 2025 and its immediate application in large-scale commercial contracts like the Northern Endurance Partnership. This shift from developing individual technologies to offering an integrated, commercial suite of solutions for massive infrastructure projects indicates that key components of the hydrogen value chain, particularly CCS, are now considered commercially mature and ready for widespread deployment by SLB.

SWOT Analysis: SLB’s Evolving Hydrogen Position

Table: SWOT Analysis of SLB’s Hydrogen Strategy

Forward-Looking Insights: The Age of Execution

The data from 2025 signals that SLB is moving firmly into an era of execution. The strategy is set: enable the hydrogen economy by building the decarbonization infrastructure it requires. The focus on large-scale CCS is not a secondary activity but the central pillar of its New Energy strategy, positioning the company to service the blue hydrogen market at an industrial scale.

Looking ahead, market actors should watch for three key signals. First is project execution on the major CCS hubs in the UK and Saudi Arabia. Hitting construction and operational milestones will be the ultimate validation of SLB’s strategy. Second, watch for announcements that explicitly link these CCS sites to specific blue hydrogen or ammonia production facilities, which will signify the transition from infrastructure construction to revenue-generating operations. Finally, progress from green hydrogen partners Genvia and John Cockerill on factory output and major electrolyzer orders will be critical. This will determine if SLB’s dual-track approach can capture value from both the green and blue hydrogen waves. The emphasis has clearly shifted from exploring niche applications to building the backbone of a new energy system. SLB is no longer just talking about the future of energy; it is building it.

Frequently Asked Questions

What is the main change in SLB’s strategy regarding hydrogen and decarbonization?
The main change is a strategic pivot from a period of diversifying investments in various hydrogen technologies (2021-2024) to a focused approach on building large-scale, enabling infrastructure (2025 onwards). SLB has moved from exploring technologies to constructing the foundational carbon capture and storage (CCS) ecosystem necessary for the hydrogen economy to thrive.

Why is SLB so focused on Carbon Capture and Storage (CCS)?
SLB’s focus on CCS is based on the strategic belief that the primary bottleneck for widespread hydrogen adoption has shifted from a lack of production technology to a lack of bankable, large-scale decarbonization infrastructure. CCS is seen as the critical enabler that makes large-scale blue hydrogen production commercially viable, and SLB is positioning itself as a leader in building this essential infrastructure.

Is SLB only pursuing blue hydrogen, or is it also involved in green hydrogen?
SLB is pursuing a dual-track strategy that supports both blue and green hydrogen. While its recent large-scale infrastructure projects (like the Aramco and Northern Lights CCS hubs) are critical for blue hydrogen, it has also made significant investments and partnerships in green hydrogen. These include acting as a lead investor for John Cockerill to scale up electrolyzer manufacturing and forming the Genvia venture to develop high-efficiency solid oxide electrolyzers.

Which geographic regions are most important to SLB’s current strategy?
SLB’s geographic focus has consolidated on major industrial hubs with strong government support for decarbonization. The key regions are the UK/North Sea, with contracts for the Northern Endurance Partnership and Northern Lights projects, and the Middle East, highlighted by the agreement with Aramco and Linde to develop a world-scale CCS hub in Saudi Arabia.

What is ‘Sequestri’ and why is it significant for SLB’s strategy?
Sequestri is SLB’s integrated carbon storage solution, launched in June 2025. Its launch is significant because it marks the commercialization of SLB’s CCS capabilities and solidifies its pivot from being a technology partner to a full-service infrastructure developer. The immediate use of Sequestri in major contracts like the Northern Endurance Partnership validates its market readiness and central role in SLB’s decarbonization strategy.

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