TRANSCOASTAL-MARINE(TCMS) TransCoastal Unit Wins Two Contracts
for Diamond Offshore Drilling Inc.
Business/Energy Editors
HOUSTON--(BUSINESS WIRE)--Nov. 2, 1998--A subsidiary of
TransCoastal Marine Services Inc. (Nasdaq:TCMS) has won two contracts
from Diamond Offshore Drilling. The first project includes
modifications to its semi-submersible drilling rig, "Ocean
Ambassador." The second is for prefabrication of four transition zone
column sponsons for the "Ocean America."
The "Ocean Ambassador" project, consisting of piping repairs and
modifications that require ABS and Coast Guard inspections, is being
performed in New Orleans at the 29-acre Michoud yard. This facility is
located in eastern New Orleans at the intersection of the Intracoastal
Waterway and the Mississippi River Gulf Outlet, is free of height and
width restrictions, and has direct access to some of the busiest
sectors of the Gulf of Mexico. Sponsons will be prefabricated for the
Ocean America at the France Road Yard, which offers 68,000 square feet
of covered fabrication shops. Both yards are operated by The Red Fox
Companies of New Iberia, a wholly-owned subsidiary of TransCoastal
Marine Services Inc.
The contracts represent an extension of capabilities for Red Fox.
While the company has fabricated and refurbished inland and
shallow-water rigs since the late 1960s, the Diamond Offshore
contracts mark its first breakthrough into the market for deepwater
rigs.
"We are honored that the world's largest operator of
semi-submersible rigs has entrusted our company with these
assignments," said Bill E. Stallworth, TransCoastal chairman and chief
executive officer. "The opportunity to assist leading drilling
companies with refurbishment of jack-ups and semi's was a primary
reason we obtained the two New Orleans yards earlier this year."
TransCoastal Marine Services Inc., headquartered in Houston, is
a marine construction company. Its Pipeline and Offshore Services
division performs pipeline installation and repair, primarily in
transition zone and shallow-water regions worldwide. For all water
depths, the division provides additional construction support
services, including hydrostatic testing and commissioning of
pipelines. Wholly-owned subsidiaries The Red Fox Companies of New
Iberia Inc. and Dickson GMP International Inc. fabricate, refurbish
and install offshore drilling rigs, barge drilling rigs, production
platforms and related fabrication services.
CONTACT: TransCoastal Marine Services Inc., Houston
Johnnie W. Domingue, 713/784-7429
www.transcoastal.com |
