Cameron Receives Subsea Tree Contract

Cameron won a $110m contract to provide 13 subsea trees, manifolds and related equipment for BHP Billiton's Pyrenees project offshore Northwest Australia. Cameron will provide engineering and project management services, 13 wellhead and subsea tree systems, control systems, several subsea manifolds and the associated flowline connection system, chokes and related equipment. Initial equipment delivery and installation is scheduled for the fourth quarter of 2008, with additional deliveries of trees, manifolds and associated equipment to continue through 2010. In addition, further expansion of the Pyrenees field beyond the initial 13 wells is expected in the future.