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Cameron And Schlumberger Form Subsea Joint Venture - OneSubsea Targets Subsea Oil Production And Recovery

Credit Suisse acted as financial advisor to Cameron. Goldman, Sachs & Co. acted as financial advisor to Schlumberger.

About Cameron

Cameron is a leading provider of flow equipment products, systems and services to worldwide oil, gas and process industries. For more information, visit www.c-a-m.com.

About Schlumberger

Schlumberger is the world's leading supplier of technology, integrated project management and information solutions to customers working in the oil and gas industry worldwide. Employing approximately 115,000 people representing over 140 nationalities and working in approximately 85 countries, Schlumberger provides the industry's widest range of products and services from exploration through production.

Schlumberger Limited has principal offices in Paris, Houston and The Hague and reported revenues from continuing operations of $36.96 billion in 2011. For more information, visit www.slb.com.

This document includes forward-looking statements regarding the joint venture and the companies, made in reliance upon the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.  The joint venture and companies' actual results may differ materially from those described in forward-looking statements.  Such statements are based on current expectations of the joint venture and companies' performance and are subject to a variety of factors, some of which are not under the control of the joint venture and companies, which can affect the joint venture and companies' results of operations, liquidity or financial condition. 

Because the information herein is based solely on data currently available, it is subject to change as a result of changes in conditions over which the joint venture and companies have no control or influence, and should not therefore be viewed as assurance regarding the joint venture and companies' future performance.  Additionally, the joint venture and companies are not obligated to make public indication of such changes unless required under applicable disclosure rules and regulations.

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