HOUSTON, Aug. 11, 2014 /PRNewswire/ -- OneSubsea™, a
Cameron (NYSE: CAM) and Schlumberger (NYSE: SLB) company, Helix
Energy Solutions Group, Inc. (NYSE: HLX) and Schlumberger today
announced that they have entered into a letter of intent to form an
alliance to develop technologies and deliver services to optimize
the cost and efficiency of subsea well intervention systems.
Helix is a leading subsea well intervention provider, with the
largest fleet size of well intervention vessels, and an unequalled
track record in cost-effective subsea well intervention.
OneSubsea, a preeminent solution provider for subsea well control,
with a global footprint of executed major projects, has significant
experience in the manufacture and supply of subsea well
intervention equipment and services. Schlumberger is the
world's leading supplier of technology and services to the
oilfield, including conveyance systems and in-well technologies for
subsea applications.
Upon agreement on the final terms of the alliance definitive
agreement, the alliance will leverage the capabilities of Helix,
OneSubsea and Schlumberger, to provide a unique, fully integrated
offering, combining marine support with well access and control
technologies. The alliance will focus on several objectives
aimed at increasing the operating envelope of today's subsea
intervention technology. These objectives include the expansion of
applications enabled by subsea well-access technology, and specific
solutions for deep and ultra-deepwater basins and higher well
pressure environments. An important consideration is the evolution
in the capabilities of Helix's vessels to provide well intervention
and additional support services such as well commissioning,
artificial lift support, and abandonment, which are usually
performed using drilling rigs.
Helix President and Chief Executive Officer, Owen Kratz said, "Helix is proud to join
OneSubsea and Schlumberger as industry leaders in a team to provide
a truly comprehensive array of solutions in the area of well
intervention. From well construction through production enhancement
to decommissioning, this is an opportunity for our companies to
work with our clients in realizing significant value creation
through a fully integrated and collaborative team effort."
Cameron Chairman, President and Chief Executive Officer,
Jack Moore said, "OneSubsea is very
excited to be partnering with Helix, the leader in subsea well
intervention; and Schlumberger, the leader in subsurface evaluation
and construction technologies. This unique alliance will drive
optimization in the complete subsea well intervention value chain.
Together, we will develop leading technology to reduce operational
risk, increase efficiency, improve recovery, and lower the overall
cost of subsea well intervention operations for our clients."
Paal Kibsgaard, Schlumberger
Chief Executive Officer said, "This alliance reinforces our
commitment, along with our OneSubsea joint-venture company partner
Cameron, to help our customers improve production and recovery from
their subsea developments. We are determined to drive further
integration of our leading technology portfolio, backed by improved
reliability and greater efficiency, to create a step-change in
performance throughout the E&P value chain."
About OneSubsea
OneSubsea, a Cameron and Schlumberger
Company, offers a step change in reservoir recovery for the subsea
oil and gas industry through integration and optimization of the
entire production system over the life of the field. Cameron, with
its long history of innovation and firsts in the subsea market, is
an industry leader in design capability, manufacturing excellence
and successful installations. Schlumberger brings a deep
understanding of the reservoir, and industry-leading well
completions, subsea processing and integration platform. Through
the integration of these strengths, OneSubsea offers best-in-class
subsea solutions for its customers. For more information,
visit www.onesubsea.com.
About Helix
Helix Energy Solutions Group,
headquartered in Houston, Texas, is an international offshore energy
company that provides specialty services to the offshore energy
industry, with a focus on well intervention and robotics
operations. For more information about Helix, visit
www.HelixESG.com.
About Schlumberger
Schlumberger is the world's leading
supplier of technology, integrated project management and
information solutions to customers working in the oil and gas
industry worldwide. Employing approximately 126,000 people
representing over 140 nationalities and working in more than 85
countries, Schlumberger provides the industry's widest range of
products and services from exploration through
production.
Schlumberger Limited has principal offices in Paris, Houston, London and The
Hague and reported revenues from continuing operations of
$45.27 billion in 2013. For more
information, visit www.slb.com.
This press release includes forward-looking statements regarding
the alliance and the companies, made in reliance upon the safe
harbor provisions of the Private Securities Litigation Reform Act
of 1995. The alliance and companies' actual results may
differ materially from those described in forward-looking
statements. Such statements are based on current expectations
of the alliance and companies' performance and are subject to a
variety of factors, some of which are not under the control of the
alliance and companies, which can affect the alliance and
companies' results of operations, liquidity or financial
condition.
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 alliance and companies have no control or
influence, and should not therefore be viewed as assurance
regarding the alliance and companies' future performance.
Additionally, the alliance and companies are not obligated to make
public indication of such changes unless required under applicable
disclosure rules and regulations.
SOURCE Cameron