Oceaneering Announces BC-10 Umbilical Contract

abarrelfullabarrelfull wrote on 20 Jul 2012 09:24

January 4, 2007

Oceaneering International, Inc. (NYSE:OII) announced that it has secured a contract with the BC-10 Consortium, operated by Shell, to supply umbilicals for block BC-10 offshore Brazil.

The order is for hybrid subsea pump and steel tube production control umbilicals totaling approximately 50 kilometers (31 miles) in length. Manufacture of the product is planned to involve the Oceaneering Multiflex facilities in Panama City, Florida and Niteroi, Brazil commencing in late 2007.

These umbilicals will be used for the ten well, subsea development of the Ostra, Abalone, and Argonauta fields in water depths ranging from 4,900 to 6,500 feet located within BC-10 in the Campos Basin. This will be the first full field development based on subsea oil and gas separation and pumping.

Hybrid umbilicals offer several capabilities in a single integrated product, which generally lower an offshore field operator’s development cost. Hybrid pump umbilicals specifically provide electric power transmission to subsea pumps that increase as well as accelerate production from some fields, particularly those with heavy crude or in deepwater.

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