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OneSubsea wins $330M contract for North Africa offshore gas project

May 28, 2015 5:39 PM ETCameron International Corporation (CAM) StockCAM, SLBBy: Carl Surran, SA News Editor
  • OneSubsea, a joint venture between Cameron (NYSE:CAM) and Schlumberger (NYSE:SLB), is awarded a $330M contract to install and service subsea production systems for a natural gas project off the coast of North Africa, at a time when orders for underwater oil field equipment have faded.
  • The scope of supply for the 13-well development includes subsea production equipment, tooling, and installation and commissioning services; deliveries are expected to begin in Q3 2016.
  • The award is the second part of the project and is the largest contract for work on subsea production systems in North Africa, according to CAM CEO Jack Moore; OneSubsea already was the supplier for the first phase of the offshore project.

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