Schlumberger (SLB +1.3%) and Cameron International (CAM +3.4%) say they will form a JV to make...

|About: Schlumberger Limited (SLB)|By:, SA News Editor

Schlumberger (SLB +1.3%) and Cameron International (CAM +3.4%) say they will form a JV to make products, systems and services for the subsea oil and gas market. CAM, which will manage the JV, will contribute its existing subsea business and receive $600M from SLB. SLB will contribute its Framo, surveillance, flow assurance and power and controls businesses.