Cameron, a Schlumberger (NYSE: SLB) company, has signed two 10-year pressure control equipment management service contracts on behalf of Transocean valued at more than $350 million, according to a news release.
As part of the first contract, Schlumberger will manage Transocean’s Cameron risers in the Gulf of Mexico. The agreement includes storage, maintenance, inspection, repair, recertification and data-driven riser management on the rigs. Through the second contract, Schlumberger said it will provide solutions to maintain and service BOP systems and other pressure control equipment for nine of Transocean’s ultra-deepwater and harsh environment drilling rigs.
The programs will help to reduce total cost of ownership for the offshore equipment and increase uptime associated with pressure control equipment, through integrated technical, operational and commercial solutions, Schlumberger said in the release.
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