Cameron and Schlumberger Complete Subsea Joint Venture

Cameron and Schlumberger today announced that OneSubsea?, a joint
venture to manufacture and develop products, systems and services for
the subsea oil and gas market, has received all required regulatory
approvals. The parties will close the transaction making OneSubsea
operational on June 30, 2013.

Cameron and Schlumberger have 60/40 ownership of the joint venture,
respectively. Cameron, with its long history of innovation and firsts in
the subsea market, is an industry leader in design capability,
manufacturing excellence and successful installations. Schlumberger
brings a deep understanding of the reservoir, and industry-leading well
completions, subsea processing and integration platform. Through the
integration of these strengths, OneSubsea will offer best-in-class
subsea solutions for its customers.

Cameron Chairman, President and CEO, Jack B. Moore said, 'This is an
exciting time for Cameron as we now have the opportunity to further
expand our subsea business through OneSubsea. Our near term focus is on
the execution of plans that have been laid out in recent months while
continuing to deliver the highest levels of quality and safety in our
product and service offerings.?

Schlumberger CEO Paal Kibsgaard commented, 'We are extremely pleased to
complete the OneSubsea joint venture with Cameron. We are now uniquely
positioned to optimize complete subsea production systems and help our
customers improve production and recovery from their subsea
developments.'

About Cameron

Cameron is a leading provider of flow equipment products, systems and
services to worldwide oil, gas and process industries. For more
information, visit www.c-a-m.com.

About Schlumberger

Schlumberger is the world's leading supplier of technology, integrated
project management and information solutions to customers working in the
oil and gas industry worldwide. Employing approximately 120,000 people
representing over 140 nationalities and working in more than 85
countries, Schlumberger provides the industry's widest range of products
and services from exploration through production.

Schlumberger Limited has principal offices in Paris, Houston and The
Hague and reported revenues from continuing operations of $42.15 billion
in 2012. For more information, visit www.slb.com.

This document includes forward-looking statements regarding the joint
venture and the companies, made in reliance upon the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995. The
joint venture and companies′ actual results may differ materially from
those described in forward-looking statements. Such statements are based
on current expectations of the joint venture and companies′ performance
and are subject to a variety of factors, some of which are not under the
control of the joint venture and companies, which can affect the joint
venture and companies′ results of operations, liquidity or financial
condition.

Because the information herein is based solely on data currently
available, it is subject to change as a result of changes in conditions
over which the joint venture and companies have no control or influence,
and should not therefore be viewed as assurance regarding the joint
venture and companies′ future performance. Additionally, the joint
venture and companies are not obligated to make public indication of
such changes unless required under applicable disclosure rules and
regulations.

2013 Schlumberger Limited. All rights reserved.

Investors

Cameron International Corporation

Jeff
Altamari, +1 713-513-3344

Vice President, Investor Relations

jeff.altamari@c-a-m.com

or

Schlumberger
Limited

Malcolm Theobald, +1 713-375-3535

Vice President of
Investor Relations

investor-relations@slb.com

or

Media

Cameron
International Corporation

Sharon Sloan, +1 713-939-2706

Marketing
Communications Manager

Sharon.Sloan@c-a-m.com

or

Schlumberger
Limited

Joao Felix, +1 713-375-3494

Director of Corporate
Communications

jpfelix@slb.com