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    Oceaneering Announces Pazflor Subsea Separation Equipment Umbilical Contract

    April 30, 2008

    April 30, 2008 – Houston, Texas – Oceaneering International, Inc. (NYSE:OII) announced it recently secured a contract with FMC Kongsberg Subsea AS, a subsidiary of FMC Technologies, Inc. (NYSE: FTI), valued at over $15 million to supply umbilicals for use on Total’s Pazflor project off the coast of Angola.

    The order is for three umbilicals totaling approximately 11,800 meters (7.3 miles) in length, to be installed as part of FMC Technologies’ subsea gas/liquid separation system.  The umbilicals will be used to supply electrical power to subsea pumps and the separation system’s control pod, lubrication to the subsea pumps, and hydraulic pressure to operate valve actuators.  They will also be used to provide chemicals to modulate the process fluids for flow assurance and transmit control signals to the subsea separation system.

    Manufacture of the umbilicals, which include electric power cables, steel tubes, and fiber optics, is planned to be performed at the Oceaneering Multiflex facility in Panama City, Florida.  Delivery is scheduled for 2010.  Under terms of the contract, Oceaneering will also purchase and provide to FMC Technologies over 200 buoyancy modules to be used in the installation of the umbilicals.

    Statements in this press release that express a belief, expectation or intention, as well as those that are not historical fact, are forward looking.  The forward-looking statements in this press release concern Oceaneering’s plan to manufacture the umbilicals at the Oceaneering Multiflex facility in Panama City, Florida and the anticipated umbilical delivery date of 2010.  These forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and are based on current information and expectations of Oceaneering that involve a number of risks, uncertainties, and assumptions. Among the factors that could cause the actual results to differ materially from those indicated in the forward-looking statements are risks and uncertainties related to: industry conditions; prices of crude oil and natural gas; Oceaneering’s ability to obtain and the timing of new projects; and changes in competitive factors.  Should one or more of these risks or uncertainties materialize, or should the assumptions underlying the forward-looking statements prove incorrect, actual outcomes could vary materially from those indicated.  These and other risks are more fully described in Oceaneering’s latest annual report on Form 10-K and its other periodic filings with the Securities and Exchange Commission.

    Oceaneering is a global oilfield provider of engineered services and products primarily to the offshore oil and gas industry, with a focus on deepwater applications.  Through the use of its applied technology expertise, Oceaneering also serves the defense and aerospace industries.

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


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