Update On Cameron Drillship Package Award
HOUSTON, Sept. 23, 2013 /PRNewswire/ -- Cameron (NYSE: CAM) announced on Nov. 26, 2012, that it had received an order from STX Offshore & Shipbuilding Co., Ltd., to supply a complete drilling equipment package for an ultra-deepwater drillship. The customer of STX Offshore & Shipbuilding Co., Ltd. was Sigma Drilling Ltd., of which Vantage Drilling Co. is a partner.
Today Vantage Drilling Co. announced that STX has suspended construction efforts on the drillship in connection with STX's restructuring efforts. Vantage also noted that it and Sigma Drilling Ltd. are discussing with STX the possible means for execution of the remaining contracted scope of work. Vantage further reported it anticipated that an agreeable work plan would result in delivery in the first or second quarter of 2016.
Cameron is a leading provider of flow control equipment products, systems and services to worldwide oil, gas and process industries.
This document includes a forward-looking statement regarding agreement on a work plan and/or delivery times pursuant thereto made in reliance upon the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The actual results may differ from that described in this forward-looking statement.