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Canyon Offshore Wins Contract on Deepwater Canyon Express

Maritime Activity Reports, Inc.

June 9, 2003

Canyon Offshore has been awarded a one-year Remotely Operated Vehicle services contract to support maintenance on the Canyon Express development in Mississippi Canyon in the Gulf of Mexico. At 7,200 feet of water, Canyon Express is the deepest operating production project in the world and includes three separate gas fields, King’s Peak, Aconcagua and Camden Hills. Under the terms of the contract, Canyon will provide integrated ROV and DP vessel services on an ongoing scheduled and callout basis. Initial planned work includes a detailed baseline CP and visual survey of the East and West flowlines, and the main umbilical and methanol coiled tubing lines. In addition, Canyon will replace subsea chemical injection valves and undertake other field maintenance and intervention tasks as required. With its extensive deepwater experience, coupled with its large inventory of deepwater assets that include the deepwater QUEST and Triton XLS work class remotely operated vehicles, the M/V Merlin and M/V Mystic Viking support vessels and access to specialized vessels from Canyon's parent company, Cal Dive International, Inc., Canyon is particularly well equip to support this contract. Doug Stroud, Canyon Offshore, VP Sales & Marketing, commenting on the contract noted: “This is an important award for Canyon Offshore, Inc. and we are proud to have been selected to support Canyon Express.” Canyon Offshore, Inc., a member of the Cal Dive group of companies, is headquartered in Houston and maintains operational offices in Aberdeen and Singapore. The company offers a wide range of subsea services to the oil and gas market, providing ROVSV / construction vessel and ROV services to support offshore construction, drilling support, survey, engineering, inspection, backhaul repair and maintenance. Canyon Offshore also provides flowline and umbilical trenching services in depths to 2,500 meters to the oil and gas market and submarine cable burial services to the Submarine Telecom Cable Industry.

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