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    Oceaneering Announces the Promotion of Robert P. Mingoia to Vice President and Treasurer

    August 31, 2006

    August 31, 2006 – Houston, Texas – Oceaneering International, Inc. (NYSE:OII) announced the promotion of Robert P. Mingoia to Vice President and Treasurer.

    Mr. Mingoia’s financial business career spans 30 years in the oil and gas industry.  He joined Oceaneering in 1989 as Corporate Controller and has served as Treasurer since 1994.  He is a graduate of The University of Texas.

    Marvin J. Migura, Senior Vice President and Chief Financial Officer, stated, “Bob’s promotion to Vice President recognizes his contribution in providing financial perspectives that are critical to Oceaneering’s growth model as well as our daily operations.  He will continue to have responsibility for all of our corporate treasury functions and overseeing the company’s financing activities.”

    Oceaneering is an advanced applied technology company that provides engineered services and hardware to Customers who operate in marine, space, and other harsh environments.  Oceaneering’s services and products are marketed worldwide to oil and gas companies, government agencies, and firms in the aerospace and marine engineering and construction industries.

    For further information, please contact Jack Jurkoshek, Director of Investor Relations, Oceaneering International, Inc., 11911 FM 529, Houston, Texas 77041; Telephone 713-329-4670; Fax 713-329-4653; www.oceaneering.com; E-Mail investorrelations@oceaneering.com.

    PR 958

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