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HOUSTON, September 22, 2015 – OneSubsea®, a Cameron (NYSE: CAM) and Schlumberger (NYSE: SLB) company, has been awarded a front-end engineering and design (FEED) contract for the Greater Enfield Area Development offshore northwest Australia.
The FEED study, which will be conducted by OneSubsea's local team in Perth, will include the design of the full subsea production system architecture solution, including subsea multiphase boosting, for the field that will be tied-back to the existing Ngujima-Yin FPSO.
OneSubsea's unique capability to integrate reservoir analysis and production assurance expertise with subsea hardware engineering, delivers a solution that optimizes system performance and maximizes recovery and financial returns.
Mike Garding, Chief Executive Officer of OneSubsea, said, "In the current economic climate, the greatest challenge is to provide the most cost-effective solutions for our customers. OneSubsea is uniquely positioned to deliver on this challenge through our integrated Pore to Process approach." He added, "through this FEED award, we will be able to optimize the subsea system performance and deliver CAPEX savings for Woodside through standardized hardware and the integration of our subsea production and boosting controls technology."
Woodside is targeting final investment decision (FID) in 2016.
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 onesubsea.slb.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.