HOUSTON, Jan. 9, 2018 /PRNewswire/ -- Oceaneering
International, Inc. ("Oceaneering") (NYSE:OII) announced that it
secured a contract from Statoil Petroleum AS ("Statoil") to supply
umbilicals for the Johan Castberg Project in the Barents Sea.
The contract is for dynamic and static control umbilicals,
totaling approximately 39 kilometers (24 miles) in length, and
associated hardware. Oceaneering plans to design and
manufacture the umbilicals at its facility in Rosyth, Scotland, with delivery scheduled for early
2021.
The control umbilicals for Statoil's Johan Castberg project are expected to be used
to transmit hydraulic control fluid and chemicals, as well as
provide the electrical power and fiber-optic requirements to
operate and monitor the subsea wells, which are located in
approximately 400 meters (1,312 feet) of water. The
umbilicals are expected to be tied back to a floating production,
storage, and offloading facility, or FPSO.
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 include the statements concerning Oceaneering's
planned design and manufacturing location, the delivery date, as
well as the expected use and tie back of the umbilicals.
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, including risks and uncertainties related to
counterparty performance under contracts and market conditions and
other economic factors affecting Oceaneering's business.
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 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,
entertainment, and aerospace industries.
For more information on Oceaneering, please visit
www.oceaneering.com.
Contact:
Suzanne Spera
Director, Investor Relations
Oceaneering International, Inc.
713-329-4707
investorrelations@oceaneering.com
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SOURCE Oceaneering International, Inc.