OneSubsea Awarded Subsea Production Systems Contract for BP West Nile Delta Fields Offshore Egypt | OneSubsea
Press Release

OneSubsea Awarded Subsea Production Systems Contract for BP West Nile Delta Fields Offshore Egypt

HOUSTON, March 14, 2016 – OneSubsea®, a Cameron (NYSE: CAM) and Schlumberger (NYSE: SLB) company, has been awarded a contract from BP Exploration (Delta) Ltd., and partner DEA (Deutsche Erdoel AG), to supply subsea production systems for the West Nile Delta Giza/Fayoum and Raven fields, situated offshore Egypt.

Giza/Fayoum will be tied-back to modified onshore Rosetta facilities and integrated with a new onshore plant for Raven. The scope of supply for the long-distance gas fields includes large-bore subsea trees, manifold systems incorporating high-integrity pressure protection systems (HIPPS) for the high-pressure Raven field, connection systems, and controls systems, along with project engineering, management and testing. The booking was recognized in the fourth-quarter of 2015.

"BP continues to be successful in driving its standardization philosophy, and this is the third award to OneSubsea that will utilize the jointly-developed large-bore tree already being deployed to other BP projects," said Mike Garding, Chief Executive Officer of OneSubsea. "OneSubsea continues to support BP in its West Nile Delta development goals, and we are proud to be a part of its long and successful track record in Egypt."

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 onesubsea.slb.com.

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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.

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