Cameron has agreed to acquire LeTourneau Technologies’ Drilling Systems and Offshore Products divisions from Joy Global, Inc. for about $375 million cash. Closing is scheduled during the 4th quarter of 2011.
Halliburton entered into an agreement to acquire Multi-Chem Group, LLC, a provider of oil field production and completion chemicals and services that address production, processing, and transportation challenges.
GulfMark Offshore, Inc. announced the initiation of an offshore supply vessel construction program. The first three vessels in the program will be built by Remontowa Shipbuilding, SA in Gdansk, Poland. These large, technologically advanced vessels have been designed to meet the demanding requirements for supporting deepwater and harsh-environment activities and are expected to operate in the North Sea market.
Cameron has renewed an agreement with Petrobras for the supply of aftermarket services and support for the Brazilian state oil company’s development projects offshore Brazil. This agreement is a continuation to the CAMSERV aftermarket services contract previously signed in 2007 and is expected to generate more than $150 million in revenue to Cameron over the next three years. Cameron will manage the agreement from its service center in Macae, Brazil.