Cameron, a Schlumberger company, signed two deals on Wednesday with Transocean to manage pressure control equipment in the U.S. Gulf of Mexico.
The two contracts are both for a 10-year period and are valued at more than $350 million.
The first contract calls for Schlumberger to manage Transocean’s Cameron risers in the Gulf of Mexico.
The 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 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,” Schlumberger Drilling Systems president Hunter Jones said.
Houston-based Schlumberger said the programs will help reduce total cost of ownership for the offshore equipment and boost uptime associated with pressure control equipment, through integrated technical, operational and commercial solutions.