M-I SWACO Officially Opens New Cameron Offshore Facility

M-I SWACO has officially opened a state-of-the-art offshore supply base in Cameron, LA, that replaces the long-time facility destroyed in 2005 by Hurricane Rita.

The new supply base has been relocated from the previous location it occupied since 1958 to the Calcasieu Ship Channel at the only deepwater port left in Cameron. The new plant, which is now one of the largest facilities M-I SWACO operates on the Gulf Coast, has total mixing capacity for 4,000 bbl of water-base, synthetic-base and oil-base drilling fluids and storage capacity of 39,000 bbl, including base fluids. The facility also has storage capacity for 55,000 sacks bulk barite, 4,000 sacks bulk gel and 4,000 sacks of bulk lime.

The company has taken all steps to ensure the plant and associated facilities remain intact during another storm, including the construction of a deflection wall around the tank farm. Also, the totally electric-powered facility, which is built on the highest point in Cameron, has been upgraded to better prepare for shutdown during hurricane evacuation.

"With 750 feet of bulkheading and water depths capable of handling the largest deepwater vessels, this facility offers the latest in technology," said Senior Vice President of the North America Business Unit Joe Bacho. "The new Cameron facility is strategically positioned to service the needs of our customers in the expanding western Gulf of Mexico deepwater market."

M-I SWACO, which is based in Houston, TX and jointly owned 60% by Smith International, Inc. (NYSE, PSE:Sii) and 40% by Schlumberger Limited (NYSE:SLB), is a leading supplier of drilling, reservoir drill-in, completion fluids and production chemicals products/systems for the global petroleum industry. In addition, the company also provides a wide range of solids-control, drilling waste management, wellbore clean-up, and production optimization equipment and engineering services.