Oceaneering Reports Record Fourth Quarter and Annual Earnings

February 20, 2008 – Houston, Texas – Oceaneering International, Inc. (NYSE:OII) today reported record fourth quarter and annual earnings for the periods ended December 31, 2007. Annual earnings increased for the fourth consecutive year.

Full Press Release: [PDF Link]

PR996

[The use in this release of such terms as Oceaneering, company, group, organization, we, us, our, and its, or references to specific entities, is not intended to be a precise description of corporate relationships.]