Oceaneering Acquires Gulf Coast International Inspection

Oceaneering International, Inc. has acquired Gulf Coast International Inspection, Inc., (GCII) to expand its presence in Non-Destructive Testing and Inspection (NDT&I) services in the Gulf of Mexico Region.

GCII currently has annual revenues of approximately $10 million and is one of the leading providers of inspection services to the oil and gas industry in the Gulf Coast area. GCII, which employs approximately 150 people working out of Louisiana and Texas, will become a part of Oceaneering's Solus Schall Division and do business as Gulf Coast Solus Schall. André Olivier will serve as Regional Manager Solus Schall Americas.

Derek Allan, Managing Director Solus Schall, stated, "Oceaneering's Solus Schall Division provides a variety of NDT&I services worldwide. This acquisition is an excellent opportunity for us to expand our activities and portfolio of services offered to Customers in the Gulf Coast Region. We can now provide a full range of underwater and land-based testing and inspection services using X-ray Crawlers and Automated Ultrasonic techniques."

Oceaneering is an advanced applied technology company that provides engineered services and hardware to Customers who operate in marine, space, and other harsh environments. The Company's services and products are marketed worldwide to oil and gas companies, government agencies, and firms in the telecommunications, aerospace, and marine engineering and construction industries.