Cameron Signs Global Agreement With BP for Subsea Systems
HOUSTON, March 1, 2011 /PRNewswire/ -- Cameron Subsea Systems has signed a non-exclusive Global Agreement with BP for the Engineering, Procurement, Construction and Operational Support for Subsea Production Systems. The Global Agreement recognizes that the alignment of standards, specifications and processes and the introduction of product standardization, will optimize the use of resources, shorten execution cycles, optimize life cycle cost and deliver superior long term value.
The Agreement is aimed at developing a long-term, collaborative, performance-based relationship between BP and Cameron, maximizing the benefits to be gained of standardization; recognizing that this is the route to enhance quality, reliability and production availability of subsea systems.
Cameron is committed to working with BP under this Global Agreement to deliver industry-leading performance of subsea production systems.
Cameron (NYSE: CAM) is a leading provider of flow equipment products, systems and services to worldwide oil, gas and process industries.