Oceaneering Wins Shenzi Umbilical Contract from BHP

Oceaneering International, Inc. has secured a contract from BHP Billiton Limited to supply umbilical distribution and connection equipment for the initial Shenzi field development. Co-venturers in the Shenzi development include Hess Corporation and Repsol YPF.

The order is for three suction-pile-supported umbilical distribution system structures, 40 steel tube flying lead assemblies, junction plates, and assorted test equipment. Each structure will have umbilical termination, hydraulic, and electrical/communication assemblies that will be independently retrievable for ease of maintenance.

Product manufacturing is planned to take place at the Oceaneering Intervention Engineering facility in Houston, Texas. Hardware deliveries are expected to commence in the second quarter of 2007 and conclude in the first quarter of 2008.

The Shenzi field is located within the Gulf of Mexico, Green Canyon area in water depth of approximately 4,300 feet. The initial field development will consist of seven subsea production wells tied back to a tension leg platform.

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