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    Oceaneering Announces Ocean Intervention Term Contract

    August 24, 2005

    August 24, 2005 – Houston, Texas – Oceaneering International, Inc. (NYSE:OII) announced it has secured a one-year term contract valued at approximately $18 million for use of the MSV Ocean Intervention and other related services, commencing mid-September 2005. The contract contains options for two one-year extensions, with dayrate escalation provisions.

    PR 921

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