HOUSTON, May 25, 2017 /PRNewswire/ -- Oceaneering
International, Inc. ("Oceaneering") (NYSE:OII) announced that one
of its subsidiaries, Oceaneering Canada Limited, has entered into
an agreement, expected to extend into 2026, with a major
international oil and gas company (the "customer"), to provide
remotely operated vehicle ("ROV") services and equipment for
projects located offshore of Newfoundland and Labrador, Canada. In addition,
Oceaneering will supply tooling and project support, including
project management and associated engineering services.
Under the terms of the contract, Oceaneering is to provide two
ROV systems onboard a Multi-Function Platform Support Vessel
supporting the customer's operations. The scope of
work contemplates subsea construction, inspection, maintenance and
repair services on existing and future infrastructure.
Roderick A. Larson, President and
Chief Executive Officer of Oceaneering, stated, "This latest ROV
services contract furthers our long-standing working relationship
with this very important customer, and expands our operations
in Atlantic Canada. An
important factor in this success is our strong customer-oriented
approach focused on meeting customer's project needs through safe,
cost effective solutions using innovative equipment and highly
trained personnel."
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:
expectation of the new agreement with the customer to extend into
2026; anticipated supply of two ROVs; and anticipated supply
of tooling, personnel and ROV project support, project management,
and associated engineering services. 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 its 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 the Company, 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.