Oceaneering Ocean Intervention term contract

Aug. 26, 2005
Oceaneering International Inc. has secured a one-year term contract valued at $18 million for use of the MSV Ocean Intervention and other related services, beginning September 2005. The contract contains options for two one-year extensions, with dayrate escalation provisions.

Offshore staff

(Houston) - Oceaneering International Inc. has secured a one-year term contract valued at $18 million for use of the MSVOcean Intervention and other related services, beginning September 2005. The contract contains options for two one-year extensions, with dayrate escalation provisions.

The vessel will conduct deepwater inspection, maintenance, and repair of deepwater subsea facilities in the Gulf of Mexico. Representative examples of this work include changing out pods and chokes, installing flowline jumpers and control umbilical flying leads, installing VIV suppression strakes and fairings, and supporting diving operations on deepwater floating facilities.

TheOcean Intervention is a US flagged, purpose-built, 75 m DP-2 MSV with a moonpool cursor deployed 300 HP maximum work class ROV system, an 80-ton marine crane, 60-ton A-Frame, 50-ton subsea winch, working moonpool, and accommodations for 50 persons. The vessel has a satellite communications system with streaming video for real-time observation of work being done by shore personnel.

08/26/05