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    Oceaneering Appoints Vice President and Chief Accounting Officer

    August 30, 2006

    August 30, 2006 – Houston, Texas – Oceaneering International, Inc. (NYSE:OII) announced the appointment of W. Cardon Gerner as Vice President and Chief Accounting Officer.  Mr. Gerner will assume his duties September 1, 2006.

    Mr. Gerner’s financial career spans over 25 years.  He was previously employed by Service Corporation International (SCI) and Equity Corporation International (ECI), where he served in various management capacities within the finance and accounting functions.  Prior to his employment with SCI and ECI, Mr. Gerner was an Audit Partner in the international accounting firm of Ernst & Young LLP.  He is a graduate of The University of Texas and a Certified Public Accountant.

    Marvin J. Migura, Senior Vice President and Chief Financial Officer, stated, “I am pleased to have such a capable and experienced individual as Cardon join our financial management team.  I am confident he will provide excellent leadership as we respond to Oceaneering’s growth opportunities, while we deal with an increasingly complex reporting and regulatory compliance environment.”

    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 959

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