HOUSTON, Jan. 4 /PRNewswire-FirstCall/ -- Cameron (NYSE: CAM) has received an order worth in excess of $230 million for the supply of subsea production systems for Stage I of Chevron's Jack & St. Malo subsea development in the Gulf of Mexico. The project will include 12 15,000-psi subsea trees, production control systems, four manifolds and associated connection systems, engineering and project management services. Deliveries are scheduled to begin in the third quarter of 2011 and continue through the second quarter of 2013.
Cameron President and Chief Executive Officer Jack B. Moore said, "We welcome the opportunity to provide Cameron's high-pressure, high-temperature deepwater technology to support the Jack & St. Malo development as part of our ongoing Advanced Supplier Relationship with Chevron."
Cameron (NYSE: CAM) is a leading provider of flow equipment products, systems and services to worldwide oil, gas and process industries.
In addition to the historical data contained herein, this document includes forward-looking statements regarding the amount and timing of future revenues of the Company resulting from this contract made in reliance upon the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The Company's actual results may differ from those described in forward-looking statements. These statements are based on current expectations of the Company's performance and are subject to a variety of factors, some of which are not under the control of the Company. Such factors include the possibility of cancellation of all or a portion of the order and the Company's ability to successfully manufacture and deliver the subsea systems ordered.
Because the information herein is based solely on data currently available, it is subject to change as a result of changes in conditions over which the Company has no control or influence, and should not therefore be viewed as assurance regarding the Company's future performance. Additionally, the Company is not obligated to make public indication of such changes unless required under applicable disclosure rules and regulations.