Cameron was advised of Chevron’s decision to defer its Rosebank project while it works with partners to improve the project economics.
Cameron had announced receipt of an award from Chevron for OneSubsea early in the third quarter for $540 million.
At the request of Chevron, Cameron will continue to work on elements of its awarded scope and work with Chevron and its partners to improve the project economics. Total 2014 revenues from the Rosebank project for the Cameron scope is estimated at approximately $30 million.
Press Release, November 26, 2013