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 November 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

NASSCO Opens New Facility for Naval Repair

General Dynamics NASSCO opened a new location yesterday in Bremerton, Wash. to support the company’s recently-awarded contract to repair and maintain U.S. Navy

Kraft Power Named Distributor for Scania USA

Continuing its North American service network expansion, Scania has named Kraft Power as its newest marine distributor.   Kraft Power is now a Scania marine distributor for Florida,

Scorpio Bulkers Modifies and Sells Shipbuilding Contracts

Scorpio Bulkers Inc. announces agreements to modify and sell existing shipbuilding contracts for six capesize vessels    Scorpio Bulkers Inc. has reached agreements

Offshore

FPSO Trio Receives Side Shell Protection

SPS Overlay has yet again been used for side impact protection on three FPSOs for a major player in the offshore industry. The work was carried out at Enseada do Paraguaçu S.

Vard Wins Farstad's OSCV Contract

Vard Holdings Limited (“VARD”) has secured a contract for the design and construction of one Offshore Subsea Construction Vessel (“OSCV”) for Farstad Shipping (“Farstad”).

US Jury Rules in Favor of Apache Corp.

Apache Corp was not in breach of contract in a lawsuit brought by Houston-based oil and gas producer W&T Offshore Inc in 2011, a federal jury found on Monday, according to a court filing.

 
 
Maritime Careers / Shipboard Positions Maritime Standards Naval Architecture Navigation Pipelines Pod Propulsion Port Authority Ship Electronics Shipbuilding / Vessel Construction 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: 0.1256 sec (8 req/sec)