| Press Releases - September 2005
September 29, 2005- Oceaneering Expands Capital Spending Program to Meet Escalating Market Demand
September 28, 2005- Expedition to Help Protect Florida's Unique Oculina Deepwater Reefs Uses NURC's Phantom SII ROV
September 26, 2005- Oil Companies Help Marine Biologists to Explore New Frontiers in Deep-Sea Oceanography
September 26, 2005- Scientists to Use HDTV and WHOI ROVs for a High-Definition Look at Surreal Sea Floor
September 20, 2005- Installation of Stainless Steel Spot Liners and Grouting Into a Deep Ocean Outfall by ROV
September 20, 2005- Evoilution Exhibition Goes Hands On at Aberdeen, Including Virtual ROV
September 19, 2005- Oceaneering's Ocean Explorer 6000 Locates Lost Riser from Hurricane Katrina
September 17, 2005- Charleston Port Gets $5.8 Million Grant
September 14, 2005- Subsea 7 Wins Marathon Oil Contract
September 14, 2005- Ocean Floor Simulates Lunar Conditions- NASA Uses ROV For Astronaut Practice
September 13, 2005- Oceaneering Acquires MTQ ROV Fleet
September 13, 2005- Schilling Robotics Provides Two Ultraheavy-Duty Hydraulic ROVs to Geoconsult
September 12, 2005- Scientist to Use ROV to Further Study Coral Reefs Disruption in Thailand After Tsunamis
September 12, 2005- Oceanteam Power & Umbilical Ltd. Orders New Vessel
September 8, 2005- Royal Navy Retrieves Yellow Submarine
September 8, 2005- Submarine Given Back to Royal Navy
September 7, 2005- Roxar Launches Compact, Subsea Acoustic Sand Detector- AD3000 Features ROV Retrievability
September 6, 2005- Oceaneering Announces $40 Million Capital Spending Authorization
September 6, 2005- Roxar Signs LOI to Supply Multiphase Flow Meters to Akpo Subsea Development
September 3, 2005- NOAA Will Search For USS Alligator
September 2, 2005- Sub-Atlantic Limited to Deliver 6000m ROV to Subsea Resources PLC
September 2, 2005- Peer Beneath Black Lake's Surface
September 1, 2005- South Florida Water Management District Triples VideoRay ROV Fleet
Past press releases are also available:
Current Press Releases
Date: September 29, 2005
Organization: Oceaneering International, Inc.
Oceaneering Expands Capital Spending Program to Meet Escalating Market Demand
Houston, TX - Oceaneering International, Inc. (NYSE:OII) announced it has received
Board of Directors' approval to expand its recent capital spending authorization
by an additional $18 million to build six work class ROVs at an estimated total
capital cost of $13 million, and a Saturation (SAT) Diving System for approximately
$5 million. Of the $18 million to be invested, nearly $11 million is anticipated
to be spent in 2005.
The incremental $18 million augments the $40 million announced on September 6,
2005. Addressing the apparent need to so quickly supplement the capital expansion
program announced earlier this month, John Huff, Chairman and Chief Executive
Officer, was pleased to reiterate, "We are making these organic growth investments
in response to the escalation in market demand for the niche market products and
services we provide."
Five of the six ROVs have long-term work commitments, four to deliver construction services and the fifth to provide drill support, offshore West Africa and Norway. The sixth vehicle is being built for use in the Gulf of Mexico (GOM) spot construction market. The committed ROVs have expected contract commencement dates ranging from January through May of 2006.
The 3-man IMCA-compliant SAT system is being built in response to GOM market demand emanating from the extensive pipeline and platform damage caused by Hurricanes Ivan, Katrina, and Rita. This SAT system is expected to be deployed on either a chartered vessel or barge for service commencing in early 2006.
Commenting on the new additions, Mr. Huff noted, "The six ROVs bring our
2005 announced new build and vehicle acquisitions to a total of 24 systems. We
anticipate that ROV demand will continue growing through 2006 and intend to add
more vehicles to our fleet as opportunities present themselves.
"The SAT system will enable us to escalate our business participation in
the repairs of damage caused by the three major GOM hurricanes in the past year.
Such work is currently anticipated to last for the next few years. Longer term,
the aging GOM infrastructure and growing operator preference for state-of-the-art
equipment supplied by companies committed to rigorous planning, execution, and
safety standards should enable us to keep this system working at a high utilization
rate."
Oceaneering is an advanced applied technology company that provides engineered
services and hardware to Customers who operate in marine, space, and other harsh
environments. Oceaneering's services and products are marketed worldwide to oil
and gas companies, government agencies, and firms in the aerospace and marine
engineering and construction industries.
For further information, please contact Jack Jurkoshek, Manager Investor Relations, Oceaneering International, Inc., 11911 FM 529, Houston, Texas 77041; Telephone 713-329-4670; Fax 713-329-4653; www.oceaneering.com; E-Mail investorrelations@oceaneering.com.
Date: September 20, 2005
Organization: ASI Group Ltd.
Installation of Stainless Steel Spot Liners and Grouting Into a Deep Ocean Outfall by ROV
Today in St. Catharines, ON, Canada, ASI Group Ltd. (ASI), an internationally acclaimed underwater inspection and water and wastewater engineering company announced the completion of repairs to a deep ocean wastewater treatment plant outfall using a Remotely Operated Vehicle (ROV). ASI was contracted to repair three deepwater leaks in the Ponce Regional Wastewater Treatment Plant Deep Ocean Outfall, located at Ponce, Puerto Rico using an ROV. Prior to carrying out the repairs, ASI conducted a condition survey of the outfall. The leak sites were located up to 1,000 feet from the nearest access and in 380 feet of water. The outside of the joints are covered with grout filled mattresses rendering them inaccessible for external repairs without removal of the mattresses and possible damage to the pipe. The distance from the nearest access into the pipe and depth of the repairs eliminated conventional manned intervention without modifications to the pipe. Extensive cleaning of the outfall in preparation for the repairs included proprietary ROV deployed pumping, scrubbing and plowing technology to remove sediment accumulation from the invert of the pipeline. This was completed by ASI using several modifications to their HD2 ROV.
Spot repair liners over two of the three joints were installed internally using an ROV. Due to an offset between adjacent pipes, the spot repair methodology was not applicable for the third leak site. ASI developed a remotely deployed grout injection technology to accommodate the conditions at this joint and successfully completed the repairs.
ASI was founded in 1987 as Aquatic Sciences Inc. by technical professionals committed to providing underwater inspections and water and wastewater engineering to industry and utilities worldwide. The Company is widely recognized for innovative solutions and effective management of water and wastewater. ASI draws on human resources with demonstrated experience in engineering, technology development, advanced marine operations, and ecological planning.
ASI employs a full time staff of 100 engineers, technologists and commercial divers and is headquartered in St. Catharines, ON, Canada. Branch offices are located in Sarnia, ON and Orchard Park, NY, United States.
For further information, please contact Ms. Barbara Laurens at ASI Group Ltd. at (905) 641-0941 Ext. 246. Email: blaurens@asi-group.com
For photos of this operation, please click
here.
Date: September 19, 2005
Organization: Oceaneering International, Inc.
Oceaneering's Ocean Explorer 6000 Locates Lost Riser from Hurricane Katrina
Houston, TX - Oceaneering's Ocean Explorer 6000 located and mapped the position of a drilling riser lost during Hurricane Katrina, and the company's Magellan 725 ROV completed a subsequent video survey of the riser. The Ocean Explorer 6000 is an advanced deep-ocean sidescan sonar and wide swath bathymetric mapping system rated at 6,000 meters. Magellan 725 is a 6000m rated ROV that uses the same handling system as the Ocean Explorer 6000. The two systems were mobilized on a single vessel of opportunity.
After Katrina, Customers called on Oceaneering to quickly switch from planned work to new assignments intended to help rapidly assess and repair damage from the hurricane to their Gulf of Mexico assets. Oceaneering provides operators with many on-demand assessment and repair services including the manpower, engineering, vessels and equipment, such as the Ocean Explorer 6000 and Magellan 725, that can speed resumption of production.
(Photos: Oceaneering)
For further information on the Ocean Explorer 6000, Magellan 725, or other mapping capabilities, contact George Kotula: Phone: 443.459.3763 E-mail: gkotula@oceaneering.com
Date: September 17, 2005
Organization: U.S. Department of Homeland Security/Port of Charleston
Charleston Port Gets $5.8 Million Grant
The U.S. Department of Homeland Security awarded a $5.8 million grant for security at the Port of Charleston. The State Ports Authority will receive $5.3 million for barriers, gates, a guard house, vehicle screening and equipment. North Charleston will receive $612,685 for marine patrol equipment and a remote operated vehicle.
Date: September 14, 2005
Organization: Subsea 7 / Marathon Oil Company
Subsea 7 Wins Marathon Oil Contract
UK- Subsea 7's Integrated Remote Technologies (IRT) division, today, announced a contract award from Marathon Oil Company for the provision of remotely operated vehicle (ROV) services. Work will take place from the 'GSF Arctic III' drilling rig whilst located on the Dragon field, approximately 40 kilometers off the west coast of Wales. Contract is valued in the region of US $250,000. The ROV drill support activities will be performed utilising the 120 HP Centurion HD Workclass ROV system which is currently installed onboard the rig.
Bill Boyle, Subsea 7 IRT's Vice President, said "We are delighted with this award and look forward to providing support services to Marathon in this drilling campaign. Work will begin in the third quarter of this year and will run on for approximately two months."
Date: September 13, 2005
Organization: Oceaneering International, Inc.
Oceaneering Acquires MTQ ROV Fleet
Houston, TX - Oceaneering International, Inc. (NYSE:OII) announced it has acquired three work vehicles and four observation class vehicles from MTQ Corporation Limited. All three of the acquired work class vehicles are currently operating in Southeast Asia under contracts that are expected to be in effect at least until the end of this year.
Oceaneering is an advanced applied technology company that provides engineered services and hardware to Customers who operate in marine, space, and other harsh environments. Oceaneering's services and products are marketed worldwide to oil and gas companies, government agencies, and firms in the aerospace and marine engineering and construction industries.
For further information, please contact Jack Jurkoshek, Manager Investor Relations, Oceaneering International, Inc., 11911 FM 529, Houston, Texas 77041; Telephone 713-329-4670; Fax 713-329-4653; www.oceaneering.com; E-Mail investorrelations@oceaneering.com.
Date: September 6, 2005
Organization: Oceaneering International, Inc.
Oceaneering Announces $40 Million Capital Spending Authorization
Houston, TX - Oceaneering International, Inc. (NYSE:OII) announced it has received Board of Directors' approval to invest approximately $40 million in a variety of new capital projects, of which $20 million is anticipated to be spent in 2005. These projects include enhancing umbilical manufacturing capabilities and efficiencies at Oceaneering's plant in Scotland, increasing subsea control valve production capacity, building three new work class ROVs, and adding four Installation Workover and Control Systems to Oceaneering's rental fleet in the Gulf of Mexico. John Huff, Chairman and Chief Executive Officer, stated, "We are making these organic growth investments in response to the escalation in market demand for the niche market products and services we provide. Of the $40 million, approximately $30 million is for our Subsea Products business and the balance for expansion of our ROV fleet. Respectively, these two segments represent the fastest growing and the most profitable lines of business in which we can find attractive investment opportunities. These capital projects are expected to contribute to Oceaneering's future earnings growth."
Oceaneering is an advanced applied technology company that provides engineered services and hardware to Customers who operate in marine, space, and other harsh environments. Oceaneering's services and products are marketed worldwide to oil and gas companies, government agencies, and firms in the aerospace and marine engineering and construction industries.
For further information, please contact Jack Jurkoshek, Manager Investor Relations, Oceaneering International, Inc., 11911 FM 529, Houston, Texas 77041; Telephone 713-329-4670; Fax 713-329-4653; www.oceaneering.com; E-Mail investorrelations@oceaneering.com.
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