Oceaneering lands BOP controls order

Oceaneering International Inc. has signed three contracts with a total value of $30 million covering subsea blowout preventer control systems.

Offshore staff

HOUSTON –Oceaneering International Inc. has signed three contracts with a total value of $30 million covering subsea blowout preventer control systems. Two are for semisubmersible rigs being upgraded and the third is for an ultra deepwater DP drillship under construction.

Oceaneering says the systems are being engineered and manufactured in Houston with deliveries starting in 4Q 2007.

"Future demand for subsea BOP control systems is tied to the announced expansion of the global floating drilling rig fleet through 2010, currently more than 60 units, and additional upgrades to existing rigs, which we believe are highly likely," says T. Jay Collins, president and CEO of Oceaneering.

09/18/2007

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