Oceaneering charters MSV

Oceaneering has chartered an Olympic P101 Class multiservice subsea support vessel for an initial term of five years from 3Q 2008.

Offshore staff

HOUSTON -- Oceaneering has chartered an Olympic P101 Class multiservice subsea support vessel for an initial term of five years from 3Q 2008.

The 312-ft (95-m) longOlympic Intervention IV will be outfitted with two work class ROVs, DP2 system, accommodations for 100 people, helideck, 150-ton (136-metric tons) heave compensated crane, and a working moonpool. It also will be equipped with a satellite communications system for streaming real-time video with onshore personnel.

The vessel will be used for subsea installation, inspection, repair, and maintenance (IRM) projects, and for well intervention services in ultra-deep waters of the Gulf of Mexico.

Hardware installations will include umbilicals, subsea trees, jumpers, flying leads, and manifolds. Well intervention services will include riserless wireline, electric line, and plug and abandonment work with Oceaneering's proprietary Subsea Intervention Lubricator System.

"We are very pleased to be able to add this vessel to our suite of assets to further enhance our capabilities to serve our customers in the deepwater GoM, says Jay Collins, president and CEO of Oceaneering. "This charter demonstrates our belief the GoM deepwater subsea hardware installation, IRM, and well intervention markets have a promising and sustainable future."

9/17/2007

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