OneSubsea®, a Cameron and Schlumberger company, has delivered the world's first subsea Multiphase Compressor to Statoil for the Gullfaks South field in the North Sea.

The subsea multiphase compressor enables boosting of unprocessed wet gas production fluids, while eliminating the need for an upstream separation facility or an anti-surge system, making it the industry's only true wet gas compressor. It is expected to increase the recovery rate for the Gullfaks South Brent reservoir by 22 million barrels of oil equivalent.

OneSubsea Chief Executive Officer Mike Garding said, "Statoil is at the forefront of subsea compression. By working in collaboration with Statoil, we have been able to develop an optimal solution to help them advance their subsea factory strategy."

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. For more information, visit www.onesubsea.com.