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Cameron

Other News

Cameron International to reduce headcount further

Cameron International has said it will reduce its headcount further as the low oil price continues. The company said around 75 jobs would go in early January next year. The move comes after the company previously said it would be letting 150 staff members go this autumn.

Markets

Schlumberger to buy Cameron in $14.8billion deal

Schlumberger has taken over Cameron in a $14.8billion deal. The company's chief executive said the move would create "new and broader" opportunities for Schlumberger in the current low oil market. Schlumberger told investors in June last year there needed to be a transformation in the technology delivered in order to outperform the markets.

Oil & Gas

Subsea 7 creates worldwide agreement with OneSubsea

Subsea 7 has struck a deal with Cameron and Schlumberger company OneSubsea to develop and deliver integrated development solutions. The move means the establishment of a worldwide non-incorporated alliance between the two firms. Subsea 7 will work alongside OneSubsea to create development solutions through the combination of subsurface expertise, subsea production systems and susbsea processing systems.

Oil & Gas

Chevron and OneSubsea sign agreement to form joint subsea program

Cameron and Schlumberger company OneSubsea and Chevron have entered into an agreement to form a JIP (Joint Industry Program) to develop subsea systems technology. The subsea development program will try to address the technical challenges presented by high pressure, high temperature reservoir environments for the development of 20,000 psi subsea systems. OneSubsea will lead the JIP by completing a portfolio of technology development projects and managing the evolution of the require enabling technologies.

North Sea

US firm’s $1bn North Sea pledge

Plans for a billion-dollar cash injection in the North Sea will be unveiled today by Prime Minister David Cameron and US President Barack Obama. The Carlyle Group, one of the world’s leading investment managers, is putting £660million into the offshore oil and gas industry. The deal has been hailed as a “clear vote of confidence” in the sector amid fears about the effect of tumbling world oil prices on north-east jobs.