Cameron Awarded $235 Million Contract for Subsea Equipment Offshore Canada
April 30 2008 - 3:50PM
PR Newswire (US)
HOUSTON, April 30 /PRNewswire-FirstCall/ -- Cameron (NYSE:CAM) has
been awarded a contract worth approximately $235 million to
engineer, construct and provide installation support for subsea
systems for the North Amethyst project, a tieback development that
is part of the White Rose oil field offshore Newfoundland and
Labrador, Canada. Under the contract, Cameron will provide 13
subsea wellheads and Christmas trees, control systems, manifold
components, flowline connection systems, and engineering and
project management support. Initial equipment deliveries are slated
to begin in the first quarter of 2009, with installation to be
completed by year-end 2009. Cameron President and Chief Executive
Officer Jack B. Moore said, "We have provided more than 20 subsea
production systems for the initial stages of the development of the
White Rose Field, and we welcome the opportunity to continue our
support in this region." Cameron (NYSE:CAM) is a leading provider
of flow equipment products, systems and services to worldwide oil,
gas and process industries. Website: http://www.c-a-m.com/ In
addition to the historical data contained herein, this document
includes forward-looking statements regarding future revenues of
the Company resulting from this contract made in reliance upon the
safe harbor provisions of the Private Securities Litigation Reform
Act of 1995. The Company's actual results may differ from those
described in forward-looking statements. These statements are based
on current expectations of the Company's performance and are
subject to a variety of factors, some of which are not under the
control of the Company. Such factors include the Company's ability
to successfully manufacture and deliver, and the customer's
acceptance of, the subsea systems ordered. 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
Company has no control or influence, and should not therefore be
viewed as assurance regarding the Company's future performance.
Additionally, the Company is not obligated to make public
indication of such changes unless required under applicable
disclosure rules and regulations. DATASOURCE: Cameron CONTACT: R.
Scott Amann, Vice President, Investor Relations of Cameron,
+1-713-513-3344 Web site: http://www.c-a-m.com/
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