The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Globe Investor

News Sources

Take control of your investments with the latest investing news and analysis

Press release from PR Newswire

Cameron Receives $90 Million Order From Statoil

Thursday, January 20, 2011

Cameron Receives $90 Million Order From Statoil09:00 EST Thursday, January 20, 2011HOUSTON, Jan. 20, 2011 /PRNewswire/ -- Cameron (NYSE: CAM) has received a contract valued at approximately $90 million from Statoil for the provision of high temperature, high pressure (HPHT) surface wellhead and Christmas trees for the Norwegian Gudrun platform with further options for the Valemon and Brynhild platform developments.  The seven-year agreement also includes aftermarket services with the option for two-year extensions continuing through the lifetime of the field.Cameron (NYSE: CAM) is a leading provider of flow equipment products, systems and services to worldwide oil, gas and process industries.Website: www.c-a-m.comIn addition to the historical data contained herein, this document includes forward-looking statements regarding 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 Company's ability to successfully manufacture and deliver, and the customer's acceptance of, the equipment 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. SOURCE CameronFor further information: R. Scott Amann, Vice President, Investor Relations of Cameron, +1-713-513-3344