Cameron Wins Pyrenees Contract

Cameron was awarded a contract worth approximately $110 million to provide 13 subsea trees, manifolds and related equipment for BHP Billiton's Pyrenees project offshore Northwest Australia. Under the contract, Cameron will provide engineering and project management services, 13 wellhead and subsea tree systems, control systems, several subsea manifolds and the associated flowline connection system, chokes and related equipment. Initial equipment delivery and installation is scheduled for the fourth quarter of 2008, with additional deliveries of trees, manifolds and associated equipment to continue through 2010. In addition, further expansion of the Pyrenees field beyond the initial 13 wells is expected in the future.

Cameron President and Chief Operating Officer Jack B. Moore said, "We are pleased to extend our relationship with BHP Billiton to include the development of the Pyrenees area offshore Australia, and we welcome the opportunity to assist them in developing this important oil province. We have provided equipment in support of BHP Billiton's programs in a number of worldwide locations, including Australia, the North Sea and the Gulf of Mexico." Moore noted that Cameron has a long history of providing subsea equipment and services in support of development programs in Australia, and has been a supplier to the country's energy industry for more than thirty years.

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