Schlumberger, Cameron International form subsea joint venture

Thu Nov 15, 2012 7:07am EST

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Nov 15 (Reuters) - Schlumberger Ltd, the world's largest oilfield services company, and oilfield equipment maker Cameron International Corp said they will create a joint venture to make products, systems and services for the subsea oil and gas market.

Cameron, which will manage the joint venture, will contribute its existing subsea business and receive $600 million from Schlumberger. Schlumberger will contribute its Framo, Surveillance, Flow Assurance and Power and Controls businesses.

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