Oceaneering to upgrade three BOPs for Transocean semisubmersibles

Oceaneering International Inc. (NYSE:OOI) has signed contracts to supply three subsea BOPs to Transocean Ltd. (NYSE:RIG).

Offshore staff

HOUSTON –Oceaneering International Inc. (NYSE:OOI) has signed contracts to supply three subsea BOPs to Transocean Ltd. (NYSE:RIG).

The $40-million order is for discrete hydraulic systems to be used on three semisubmersible drilling rigs that Transocean is modifying to meet the new API 53 standards. Thenew standards calls for replacement of single shear ram BOPs, among other things.

Oceaneering will manufacture the equipment at its Intervention Engineering facility in Houston for delivery in 4Q 2013 and 1Q 2014.

2/22/2013

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