HOUSTON, May 16, 2017 – Oceaneering International, Inc. (“Oceaneering”) (NYSE:OII) announced that it has been awarded a contract to provide services and products to support the design, fabrication and installation of ancillary flowline hardware for the Appomattox development in the Mississippi Canyon Area of the U.S. Gulf of Mexico for Shell Offshore Inc. (“Shell”).
The scope of work for ancillary flowline hardware will include the procurement and installation of pre-lay and post-lay crossing mattresses, flowline jumper fabrication and installation, manifold installation, as well as the design, procurement, fabrication and installation of subsea buoyancy for flowline thermal expansion.
Oceaneering’s state-of-the-art, U.S. flagged vessel, the Ocean Evolution, scheduled for delivery in the latter part of 2017, is expected to be used to perform the offshore installation services in various phases commencing late 2017 and ending sometime in 2019. Oceaneering is also expected to provide project management, engineering, remotely operated vehicle services, survey services, subsea tooling and global data solution services to Shell as needed for this work.
Roderick A. Larson, President and Chief Executive Officer of Oceaneering, said, “We are extremely pleased to expand our scope of supply, in addition to previously securing the control umbilicals contract, on this Shell deepwater Gulf of Mexico development. This project demonstrates Oceaneering’s capabilities to leverage our comprehensive portfolio of offshore services and products to produce safe, reliable and cost effective solutions that meet all of a customer’s requirements.”
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.
In accordance with the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995, Oceaneering International, Inc. cautions that statements in this press release which are forward-looking involve risks and uncertainties that may impact Oceaneering’s actual results. The forward-looking statements in this press release concerning Oceaneering’s: expectation of Shell’s utilization of the Ocean Evolution for installation services and the timing for those services; and expectations to provide project management, engineering, remotely operated vehicle services, survey services, subsea tooling and global data solution services to Shell as needed for this work. Although Oceaneering’s management believes that the expectations reflected in these forward-looking statements are reasonable, Oceaneering can give no assurance that the expectations will prove to have been correct.
The forward-looking statements are made based on various underlying assumptions and are subject to numerous uncertainties and risks, including without limitation, changes in schedule, contract cancellation, and other contract modifications. If one or more of these risks materialize, or if underlying assumptions prove incorrect, actual results may vary materially from those expected.
For a more complete discussion of these and other risk factors, please see Oceaneering’s filings with the Securities and Exchange Commission. Oceaneering undertakes no obligation to update or revise any forward-looking statements to reflect new information or the occurrence of unanticipated events or otherwise, except as required by applicable law.
For more information on Oceaneering, please visit www.oceaneering.com.
Director, Investor Relations
Oceaneering International, Inc.
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