On the topic of drilling systems, we see a very healthy market for drilling systems technology and the aftermarket service infrastructure to support it. With demand for deepwater floaters and high-spec jackups growing, coupled with our contractors' commitment to upgrade their current offshore and onshore fleets, we expect another record year for orders. As for Q1's result, we had another great quarter, with orders totaling over $700 million in Q1, up $450 million versus last year, and up $350 million sequentially. We booked 8 subsea stacks and 8 jackup stacks in the quarter.Aftermarket bookings grew as well, totaling over $190 million in Q1, a $75 million increase versus last year. And investments in our aftermarket operations continue to move forward. Our Gulf of Mexico offshore base in Berwick, our Singapore base in Jurong, our Macaé base in Brazil, and our North Sea support base in Aberdeen, all of these investments will be completed by year end. In response from customers who have been very positive and by judging by our bookings, they are supporting these commitments.
Cameron International's CEO Discusses Q1 2012 Results - Earnings Call Transcript
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