OneSubsea™, a Cameron and Schlumberger company, has been awarded a subsea production systems contract totaling more than $270 million for the Lakach deepwater project offshore Mexico. This is the first deepwater subsea field to be developed by Pemex.

The scope of supply for the seven well system includes subsea production equipment and tooling. OneSubsea will also provide installation and commissioning services. Deliveries are expected to begin in June 2016.

Cameron Chairman and CEO, Jack B. Moore said, "OneSubsea is very honored to be awarded this contract from Pemex. The Lakach field is a significant development for Mexico, and OneSubsea looks forward to providing the best-in-class equipment and services that will help them optimize production."

About OneSubsea

OneSubsea, a Cameron (NYSE:CAM) and Schlumberger (NYSE:SLB) 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.

About Pemex

Mexico's state oil company Pemex is is the biggest company of Mexico and Latin America, and the most important fiscal contributor of the country.