Cameron and Petrobras announced that they have signed a Memorandum of Understanding over the Cameron’s intention to expand its research and development facilities at two locations in Brazil. Petrobras is Brazil’s largest company and the world’s third biggest energy company in market value. Cameron is a leading provider of flow equipment products, systems and services to worldwide oil, gas and process industries. The US$30 million investment in Cameron’s Jacarei plant in Sao Paul State will add testing capabilities, such as a hyperbaric chamber, high pressure flow loop for use in testing and qualifying separators and increased measurement equipment. A new Center of Excellence for Research will be built at the Universidade Estadual de Campinas and in Sao Paulo State, establishing a new joint center for technology development. Jack B. Moore, Cameron president and CEO, said that investment in these facilities represents another significant step in the company’s commitment to the Brazilian oil and gas industry. Moore said, “Over the past fifteen years, Cameron has continued to invest in local infrastructure to provide equipment and services in support of Petrobras’ exploration and production efforts. We now have more than 1,000 locals employed in our Brazil facilities, including Cameron’s market-leading manufacturing plant in Taubate, which is expected to deliver its 200th tree during 2011; our multifunctional aftermarket center in Macae; and the newly expanded Jacarei facility. In addition, we plan to add control systems and flow control equipment offerings to Cameron’s product portfolio in Brazil.” (March 15, 2011)