Norwegian rig company MARACC awards Cameron and VetcoGray drilling systems contracts

Thu. August 28, 2008; Posted: 10:00 AM

Aug 28, 2008 (NORDIC BUSINESS REPORT via COMTEX) -- CAM | Quote | Chart | News | PowerRating -- Norwegian semi-submersible rigs manufacturer and operator Marine Accurate Well ASA (MARACC) announced on Thursday (28 August) that it has awarded the US companies Cameron (NYSE: CAM | Quote | Chart | News | PowerRating) and VetcoGray, part of GE Oil and Gas, contracts for the drilling systems for its semi-submersible rig Island Innovator.

MARACC awarded Cameron the contract for the BOP and BOP Control System, and VetcoGray the contract for the Marine Drilling Riser System.

The contracts have a combined value of USD50m.

MARACC, headquartered in Forus, Norway, was established in 2006 to build and own special purpose semi-submersible rigs for heavy well intervention operations. The company has currently one semi-submersible rig under construction at the Cosco Zhoushan shipyard in China. MARACC is 30%-owned by Island Offshore.

One British pound (GBP) is worth approximately 1.86 US dollars (USD).

Comments on this story may be sent to nbr.feedback@nordicbusinessreport.com

For full details on Cameron International Corp (CAM) click here. Cameron International Corp (CAM) has Short Term PowerRatings of 5. Details on Cameron International Corp (CAM) Short Term PowerRatings is available at This Link.

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