Oceaneering to Supply Umibilicals to Pyrenees Project

Oceaneering International has secured a contract from BHP Billiton to supply umbilicals and associated subsea hardware for the Pyrenees field development offshore Western Australia.

The order includes thermoplastic production control umbilicals totaling approximately 17 miles in length. Product manufacturing is planned to occur in the Oceaneering Multiflex facility in Rosyth, Scotland, commencing the first quarter of 2008 for anticipated delivery in the fourth quarter of 2008.

T. Jay Collins, President and Chief Executive Officer, stated, "We are pleased with this contract award as it is expanding our global relationship with BHP Billiton as a specialty subsea hardware provider.

"The umbilicals we supply under this contract will support BHP Billiton's use of a Floating Production Storage and Offloading (FPSO) system to produce oil offshore Australia. In April of this year we delivered umbilicals for another BHP Billiton FPSO field development offshore Australia at Stybarrow, located approximately 12 miles west of Pyrenees.

"We also are currently under contract to BHP Billiton to supply umbilical distribution connection equipment for the initial Shenzi field development in the Gulf of Mexico."


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