Marine Link
Tuesday, September 27, 2016

Oceaneering To Provide Offshore Unit

November 18, 1999

Oceaneering International has been awarded a contract to provide a mobile offshore production unit (MOPU) for development of the Legendre North and South oil fields in WA-1-P on the Northwest Shelf of Western Australia. Participating companies in Legendre fields are Woodside Energy, Apache Northwest and Santos Limited (STO.AX), with Oceaneering converting its jackup Marine 7 to serve as the Legendre MOPU. The contract is a dayrate services agreement with a primary term of three years. With production predicted to commence by mid-2001, Oceaneering expects to accumulate incremental earnings of $.30 per share annually during this primary contract term. The company plans to fund the estimated capital cost of $80 million through cash flow from operations and its existing revolving credit facility.


Maritime Reporter Magazine Cover Sep 2016 - Maritime & Ship Security

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Subscribe
Maritime Reporter E-News subscription

Maritime Reporter E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News