Cal Dive Awarded Pemex Contract for 2012

abarrelfull wrote on 26 Oct 2011 14:12
Tags: cal-dive mexico pemex services

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Cal Dive International, Inc. (NYSE:DVR) announced today that it has been awarded a contract by Pemex Exploración y Producción for the installation of an 8 inch subsea pipeline located in the Abkatun Field in 47 meters of water. The contract will generate total revenue of approximately $27 million and will utilize two of the Company's key assets. The offshore construction is expected to commence in April 2012.

Quinn Hébert, President and Chief Executive Officer of Cal Dive, stated, "We are pleased to announce our first contract win in Mexico for 2012. We expect 2012 to be a very active year in Mexico as the capital spending by Pemex is expected to be at a higher level than in recent years."

Cal Dive International, Inc., headquartered in Houston, Texas, is a marine contractor that provides an integrated offshore construction solution to its customers, including manned diving, pipelay and pipe burial, platform installation and platform salvage services to the offshore oil and natural gas industry on the Gulf of Mexico OCS, Northeastern U.S., Latin America, Southeast Asia, China, Australia, the Middle East, India and the Mediterranean, with a fleet of 29 vessels, including 19 surface and saturation diving support vessels and 10 construction barges.

• Cal Dive Awarded Pemex Contract for 2012

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