Subsea Services Alliance Announces Plans for 15,000-psi Intervention Riser System

HOUSTON, April 30, 2015 /PRNewswire/ -- Subsea Services Alliance, the collaboration between Helix Energy Solutions Group, Inc. (NYSE: HLX), OneSubsea^®, a Cameron (NYSE: CAM) and Schlumberger (NYSE: SLB) company, and Schlumberger, is pleased to announce the first joint technology project between OneSubsea and Helix to engineer and manufacture a 15,000-psi intervention riser system.

This jointly developed technology advances the alliance's objectives to offer well intervention solutions to service the increasing number of high-pressure wells in the subsea environment.  The system, which will be available on a rental basis in mid-2017, is being engineered and built at OneSubsea facilities in Leeds, UK.

Helix President and Chief Executive Officer, Owen Kratz said, "This new jointly-owned system will allow us to service a wider range of our client's well stock.  It shows that even in a downturn we are able to target new and exciting opportunities."

OneSubsea Chief Executive Officer, Mike Garding stated, "By combining the operational expertise of Helix Energy Solutions with OneSubsea's world class engineering and manufacturing capability, we are creating well access and control packages that will expand today's operating envelope to deeper and higher temperature environments. The announcement for the 15,000-psi intervention riser system is one of the first steps we are taking on the road to become the pioneers in subsea well intervention."

For further information, please visit www.subseaservicesalliance.com

About Helix

Helix Energy Solutions Group, headquartered in Houston, Texas, is an international offshore energy company that provides specialty services to the offshore energy industry, with a focus on well intervention and robotics operations. For more information about Helix, visit www.HelixESG.com.

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.

About Schlumberger

Schlumberger is the world's leading supplier of technology, integrated project management and information solutions to customers working in the oil and gas industry worldwide. Employing approximately 115,000 people representing over 140 nationalities and working in more than 85 countries, Schlumberger provides the industry's widest range of products and services from exploration through production.  Schlumberger Limited has principal offices in Paris, Houston, London and The Hague, and reported revenues of $48.58 billion in 2014. For more information, visit www.slb.com.

This press release includes forward-looking statements regarding the development and capabilities of the technology, equipment and services to be provided by the alliance, made in reliance upon the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.  The alliance's and companies' actual results may differ materially from those described in forward-looking statements.  Such statements are based on current expectations of the alliance's and companies' performance and are subject to a variety of factors, some of which are not under the control of the alliance and companies, which can affect the alliance's and companies' results of operations, liquidity or financial condition. 

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 the alliance and companies have no control or influence, and should not therefore be viewed as assurance regarding the alliance's and companies' future performance.  Additionally, the alliance and companies are not obligated to make public indication of such changes unless required under applicable disclosure rules and regulations.

SOURCE Cameron

Related Links

http://www.subseaservicesalliance.com