Oceaneering International : Awarded Contract to Supply Umbilicals and Distribution Hardware for Mozambique LNG Project
June 18, 2019 at 06:09 pm EDT
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PRESS RELEASE
Oceaneering Awarded Contract to Supply Umbilicals and
Distribution Hardware for Mozambique LNG Project
HOUSTON, June 18, 2019 /PRNewswire/ -- Oceaneering International, Inc. ("Oceaneering") (NYSE:OII) announced that it has been awarded a contract by Anadarko Moçambique Área 1, Lda, a wholly owned subsidiary of Anadarko Petroleum Corporation, to supply umbilicals, distribution hardware, and aftermarket services.
The multiple lengths of onshore and subsea steel tube control umbilicals total approximately 115 miles (185 kilometers) in length. The distribution hardware to be provided includes umbilical termination assemblies, hydraulic and chemical distribution units, electrical distribution units, ying leads, junction plates, ROV yable large- bore connectors, and aftermarket services in support of installation. Manufacture of the umbilicals and distribution hardware is scheduled to occur at the Oceaneering facilities in Panama City, Florida and Houston, Texas; and is expected to commence in the third quarter of 2019 and be completed in the third quarter of 2021.
Rod Larson, President and Chief Executive Ocer, stated: "This award demonstrates continued con dence in Oceaneering's ability to safely deliver high-quality integrated products and services at a time of extreme prudence by operators in moving projects forward. We look forward to executing this substantial scope of work to support the Anadarko-led Mozambique LNG project and are pleased to help advance the energy industry in the region."
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 the length of umbilicals; hardware and services to be provided; and scheduled manufacturing locations and commencement and completion periods. 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 aQecting Oceaneering's 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 lings with the Securities and Exchange Commission.
Oceaneering is a global provider of engineered services and products, primarily to the o shore energy industry. Through the use of its applied technology expertise, Oceaneering also serves the defense, entertainment and
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aerospace industries.
For more information on Oceaneering, please visit www.oceaneering.com.
Contact:
Mark Peterson
Vice President, Corporate Development and Investor Relations
Oceaneering International, Inc.
713-329-4507 investorrelations@oceaneering.com
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SOURCE Oceaneering International, Inc.
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Oceaneering International Inc. published this content on 18 June 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 June 2019 22:08:01 UTC
Oceaneering International, Inc. is a technology company, which delivers engineered services and products, and robotic solutions to the offshore energy, defense, aerospace, manufacturing and entertainment industries. The Company operates through four segments. Subsea Robotics segment consists of its remotely operated vehicles (ROVs), survey services and ROV tooling businesses. Manufactured Products segment provides distribution systems, such as production control umbilicals and connection systems made up of specialty subsea hardware, along with clamp connectors and subsea and topside control valves. Offshore Projects Group segment provides a portfolio of integrated subsea project capabilities and solutions. Integrity Management & Digital Solutions segment provides asset integrity management, corrosion management, inspection and nondestructive testing services, principally to customers in the oil and gas, power generation and petrochemical industries.