Schlumberger Signs Two Long-Term Transocean Service Agreements, Worth over $350 million

HOUSTON, —Cameron, a Schlumberger company, has officially announced the signing of two 10-year pressure control equipment management service contracts on behalf of Transocean valued at greater than $350 million.
The first contract calls for Schlumberger to manage Transocean’s Cameron risers in the Gulf of Mexico. This comprehensive agreement includes storage, maintenance, inspection, repair, recertification and data-driven riser management on the rigs. Through the second contract, Schlumberger will provide a comprehensive suite of solutions to maintain and service blowout preventer (BOP) systems and other pressure control equipment for nine of Transocean’s ultra-deepwater and harsh environment drilling rigs.
“This agreement leverages the core competencies of Transocean and Schlumberger’s capabilities as an original equipment manufacturer,” said Hunter Jones, president, Drilling Systems, Schlumberger. “Our leadership in technology, hardware and software along with the ability to enhance the value of the data provides a foundation for improving operational performance and availability of pressure control equipment.”
These 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.