Cameron Enters into Frame Agreement with Petrobras, Receives Initial Order for 111 Subsea Trees
Monday, October 5, 2009
Cameron has
entered into a frame agreement with Petrobras, expected to be worth
approximately $500 million, for the supply of subsea trees and related running
tools to Petrobras for use in their developments offshore Brazil.
Under the
agreement, Cameron will provide 138 subsea Christmas trees, with the installation
to be supported by 18 sets of running tools that are also part of the scope of
supply. Initial delivery is slated to begin in 2011, with deliveries to
continue for four years.
As a part of
this agreement, Cameron has also received a purchase order contract for the first
111 subsea trees. Deliveries under this initial order are to begin in the first
quarter of 2011 and continue until the first quarter of 2014. More…
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