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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: Big Dog who wrote (56225)	12/6/1999 7:50:00 PM
From: BigBull	Respond to of 95453

Big, speaking of OII, it was one of the few bright lights in OS firmament today. I subscribe to OII's email news release service and received this email from the company today. While it is only a tie back for one well, it highlights the fact that biz is really starting to pick up for these guys, coming as it does on the heals of the Legendre job. ------------------------------------------------------------ Mail Distribution for list "thepress": Oceaneering International Inc. ------------------------------------- December 6, 1999 - Houston, Texas - Oceaneering International, Inc. (NYSE:OII) announced that it has received a contract from Mariner Energy for the subsea tieback of its Apia gas discovery, located in Garden Banks (GB) Block 73, in the Gulf of Mexico. The single subsea well will be tied back to a platform in GB 72 over a distance of three miles through water depths ranging from 540 ft. to 700 ft. The work is scheduled for completion by the end of the first quarter 2000. Oceaneering's role covers the entire subsea tieback workscope, including project management, systems engineering, and supervision of the installation of the subsea equipment and facilities. Mariner will retain control of the drilling rig operations. Oceaneering will provide and install the dual 4-1/2 in. coiled tubing flowlines and Multiflex subsea control umbilical using the MSV Ocean Intervention. The tree-end jumper connections will be performed by a WASP atmospheric diving system working from the drilling rig. Oceaneering will also provide and install the production control and chemical injection systems, perform modifications to the platform process facilities, and alter an existing Christmas tree to be installed on the well. Kevin McEvoy, Senior Vice President, stated, "We are very pleased that Mariner has awarded Oceaneering the Apia subsea tieback on a turnkey basis. We have been working with Mariner on a series of subsea field developments since the early days of the Mustique/Shasta project in 1994, and our two companies have developed a very effective working relationship, based on mutual confidence, trust, and respect. We are proud to be providing technology and expertise, which has contributed toward Mariner's deepwater success in the Gulf of Mexico." 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 often combined to offer complete project solutions and are marketed worldwide to oil and gas companies, government agencies, and firms in the telecommunications, aerospace, and civil engineering and construction industries. For further information, please contact Jack Jurkoshek, Investor Relations Manager, Oceaneering International, Inc., 11911 FM 529, Houston, Texas 77042; Telephone 713-329-4670; Fax 713-329-4653; www.oceaneering.com PR 732 ----------------------------------------------------------------------- To be removed from this list: return to oceaneering.com and select "Unsubscribe".