Cameron Signs Venezuela Pact

The deal is worth more than $190 million.
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Oil-services firm

Cameron

(CAM)

received a contract worth more than $190 million to provide subsea equipment to Petroleos de Venezuela, the Venezuelan national petroleum company.

Cameron will provide 10 subsea trees, wellheads, production-control systems, in-field jumpers and flowline connection systems, along with engineering and project-management services, for two natural gas development projects.

Initial equipment delivery and installation is set to begin in the first quarter, with additional deliveries of subsea trees and associated equipment to continue through 2009.

Shares of Cameron were up 1.4% early Wednesday.

This article was written by a staff member of TheStreet.com.