HOUSTON, Jan. 24, 2011 /PRNewswire/ -- Cameron (NYSE: CAM)
has received an order for the supply of subsea production systems
for a deepwater and offshore gas processing and pipeline project in
the South China Sea. The project will include subsea
equipment, as well as an agreement to provide additional services
across the life of the field. Deliveries are scheduled to
begin in late 2011 and continue through 2012.
Cameron President and Chief
Executive Officer Jack B. Moore
said, "At water depths of nearly 5,000 feet, this represents the
deepest prospect to date in the Asia-Pacific region. We are pleased to have
the opportunity to provide Cameron's equipment and technology in
support of this important development. This is the first
major subsea project in China for
Cameron, and it represents a significant market opportunity."
Moore noted that in conjunction with the award, Cameron will
construct a new aftermarket facility in China to provide CAMSERV™ aftermarket services
for this and future projects in the region.
Cameron (NYSE: CAM) is a leading provider of flow equipment
products, systems and services to worldwide oil, gas and process
industries.
Website: www.c-a-m.com
In addition to the historical data contained herein, this
document includes forward-looking statements regarding the amount
and timing of 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 possibility of cancellation of all or a portion
of the order and the Company's ability to successfully manufacture
and deliver 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.
SOURCE Cameron