Cal Dive Wins GoM Subsea Pipeline Contract

Press Release
Thursday, March 28, 2013

Cal Dive International awarded an EPIC contract by Pemex Exploración y Producción; updates Q1 2013 expectations.

The contract is for the engineering, procurement, installation and commissioning (EPIC) of 12 kilometers of eight-inch subsea pipeline and associated tie-ins on four existing platforms located in the Abkatun-Pol-Chuc Field in the Bay of Campeche.

It is expected to generate total revenue of approximately $63 million and will utilize three of the Company’s vessels. The offshore construction is expected to commence in the third quarter 2013.

The Company is also providing an update on its previously disclosed expected first quarter results. The current expectation is that the first quarter results will be lower than those estimated during the fourth quarter 2012 earnings conference call but still significantly improved over first quarter of 2012.

The primary reasons for the adjustment in estimate include zero utilization days in March for the dive support vessel Texas in West Africa due to the unexpected cancellation of its contracted work that was previously scheduled for the month due to a change in the client’s project plans, higher than expected employee medical costs, and lower than expected pricing for surface diving services in the U.S. Gulf of Mexico.

Cal Dive International, Inc., headquartered in Houston, Texas, provides an integrated offshore construction solution to its customers, including manned diving, pipelay and pipe burial, platform installation and salvage, and light well intervention services.

 

Maritime Reporter February 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

Food Handling Products Ordered for Ovation of the Seas

ALMACO informs it has been contracted to deliver food handling products for the Royal Caribbean International’s Ovation of the Seas, the third Quantum-class ship

Australia Announces Patrol Boat Tender

Tender announced for Pacific Patrol Boat Replacement Project   The Australian Government announced a Request for Tender (RFT) to replace the Pacific Patrol Boats

Port of Rotterdam 2014 Profit Dips

The Port of Rotterdam Authority said on Thursday its net profit for 2014 fell 4.9 percent to 215 million euros ($237 million) on higher financing costs. Europe's

Offshore

Ensco Announces Cash Tender Offer

Ensco plc announced today that it has commenced a cash tender offer to purchase any and all of its outstanding 3.25% Senior Notes due 2016 (CUSIP No. 29358QAB5).

Seadrill: Rig Rates Have Not Bottomed

The market for oil and gas drilling rigs continues to deteriorate as oil companies cut back on investments, Seadrill Chief Financial Officer Rune Magnus Lundetrae

‘Blue Queen’ on First Mission

The platform supply vessel 'Blue Queen', an ULSTEIN PX121 design, was named at Ulstein Verft on Friday 27 February. The ship will be working in the spot market.

 
 
Maritime Security Naval Architecture Offshore Oil Pipelines Pod Propulsion Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1391 sec (7 req/sec)