OneSubsea Signs Global Frame Agreement with BG Group
Houston (October 23, 2014) – OneSubsea, a Cameron (NYSE: CAM) and Schlumberger (NYSE: SLB) company, has signed a 10-year global frame agreement with BG Group to supply subsea production equipment and aftermarket services.
By adopting OneSubsea’s unique integrated solutions capabilities, the agreement establishes a framework for BG to pursue a standardized approach to subsea production technology and services for their new field development portfolio on a worldwide basis.
OneSubsea Chief Executive Officer Mike Garding said, “We are extremely pleased to be collaborating with BG Group to support their subsea field development objectives on a global scale. Through this long-term framework agreement, OneSubsea will engage the competencies of our Integrated Solutions team, providing engineering expertise, reliable field-proven technology, and aftermarket services to meet BG’s new development goals. Having supplied more than 100 trees to-date, this further cements our well-established relationship with BG.”
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 the companies, made in reliance upon the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The actual results of the companies may differ materially from those described in forward-looking statements. Such statements are based on current expectations of the performance of the companies and are subject to a variety of factors, some of which are not under the control of the companies, which can affect the 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 companies have no control or influence, and should not therefore be viewed as assurance regarding the companies’ performance. Additionally, the companies are not obligated to make public indication of such changes unless required under applicable disclosure rules and regulations.
For further information, contact:
Vice President, Investor Relations
Cameron International Corp.
Tel: +1 713 513 3344
Director of Marketing
Tel: +1 713 939 2839