Oceaneering Announces Second Quarter Earnings

July 29, 2009 – Houston, Texas – Oceaneering International, Inc. (NYSE:OII) today reported second quarter earnings for the period ended June 30, 2009.  On revenue of $451 million, Oceaneering generated net income of $48.1 million, or $0.87 per share.  During the corresponding period in 2008, Oceaneering reported revenue of $500 million and net income of $52.1 million, or $0.93 per share as restated.

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