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.