Cameron Pens Panyu Contract with CNOOC

Cameron has signed an agreement with CNOOC for the supply of subsea production systems in support of the Panyu 35-1/2 deepwater gas field developments in the South China Sea. The contract is valued at approximately $100 million and the scope of supply includes six subsea production trees, production controls, one manifold, associated subsea equipment, rental tooling and service support. Deliveries are scheduled to commence in 2013.

This is Cameron's second award in the China region, Liwan 3-1 being the first. "This award further cements Cameron's strategy to take a leading position in China," stated Jack B. Moore, Cameron Chairman, President and Chief Executive Officer. "This project will be supported by our new CAMSERV Aftermarket facility in Shekou, China."