OneSubsea Awarded Contract For Pemex Lakach Deepwater Development, Mexico

HOUSTON, Oct. 13, 2014 /PRNewswire/ -- OneSubsea™, a Cameron (NYSE:CAM) and Schlumberger (NYSE:SLB) company, has been awarded a subsea production systems contract totaling more than $270 million for the Lakach deepwater project offshore Mexico. This is the first deepwater subsea field to be developed by Pemex.

The scope of supply for the seven well system includes subsea production equipment and tooling. OneSubsea will also provide installation and commissioning services. Deliveries are expected to begin in June 2016.

Cameron Chairman and CEO, Jack B. Moore said, "OneSubsea is very honored to be awarded this contract from Pemex. The Lakach field is a significant development for Mexico, and OneSubsea looks forward to providing the best-in-class equipment and services that will help them optimize production."

About OneSubsea
OneSubsea, a Cameron and Schlumberger Company, offers a step change in reservoir recovery for the subsea oil and gas industry through integration and optimization of the entire production system over the life of the field. Cameron, with its long history of innovation and firsts in the subsea market, is an industry leader in design capability, manufacturing excellence and successful installations. Schlumberger brings a deep understanding of the reservoir, and industry-leading well completions, subsea processing and integration platform. Through the integration of these strengths, OneSubsea offers best-in-class subsea solutions for its customers.  For more information, visit www.onesubsea.com.

This document includes forward-looking statements regarding Cameron, made in reliance upon the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The actual results of Cameron may differ materially from those described in forward-looking statements. Such statements are based on current expectations of the performance of Cameron and are subject to a variety of factors, some of which are not under the control of Cameron, which can affect the results of operations, liquidity or financial condition of Cameron.

Because the information herein is based solely on data currently available, it is subject to change as a result of changes in conditions over which Cameron has no control or influence, and should not therefore be viewed as assurance regarding Cameron's performance. Additionally, Cameron is not obligated to make public indication of such changes unless required under applicable disclosure rules and regulations.

SOURCE Cameron

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