The Swordfish development, located in the Gulf of Mexico in approximately 5,000 feet of water, is a multi-well tie back to a floating production spar.
Oceaneering is in negotiations with Mariner for additional subsea hardware and installation services. The umbilical contract, plus any additional subsea specialty hardware, if awarded, will be included in Oceaneering's Subsea Product backlog as of June 30, 2004.
Philip Gardner, Senior Vice President of Manufacturing, stated, "We are very pleased to have been awarded this contract, which will be the first major umbilical to be manufactured in our new Panama City, FL facility. This plant is being outfitted with $25 million of state-of-the-art manufacturing equipment, including the most technologically advanced steel tube-cabling machine in the world."
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