HOUSTON — Cal Dive International, Inc. (NYSE:DVR) announced today that it has been awarded a contract by a large oil and gas company in China for pipe lay work in Bohai Bay. The day rate contract will generate total revenue of approximately $32 million and involve 130 total utilization days, utilizing the derrick/lay barge Sea Horizon. The offshore construction is expected to commence in May 2009.
Quinn Hébert, President and Chief Executive Officer of Cal Dive, stated, “We are excited to announce this project win along with the recently awarded Pemex contract. These contracts are adding significant revenue to our international backlog as we remain focused on expanding our operations abroad.”
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, Australia, the Middle East, India and the Mediterranean, with a fleet of 31 vessels, including 21 surface and saturation diving support vessels and 10 construction barges.
Source: Cal Dive International, Inc.