Oceaneering Awarded Contract to Supply Umbilicals and Distribution Hardware for Mozambique LNG Project
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, flying leads, junction plates, ROV flyable 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 Officer, stated: "This award demonstrates continued confidence 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 affecting 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 filings with the Securities and Exchange Commission.
Oceaneering is a global provider of engineered services and products, primarily to the offshore energy industry. Through the use of its applied technology expertise, Oceaneering also serves the defense, entertainment and aerospace industries.
For more information on Oceaneering, please visit www.oceaneering.com.