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Northern Canyon Completes Gunnison Spar Contract

Maritime Activity Reports, Inc.

January 22, 2004

In November, Canyon Offshore Inc., a subsidiary of Cal Dive International mobilized the M/V Northern Canyon with two 2,500-m rated Triton XLS systems on board, to support the Gunnison Spar installation for Kerr McGee. Canyon operated as a subcontractor to Cal Dive International, Inc. The vessel has since completed a number of SPAR installation tasks, including survey array installation, flowline and riser installation support, mooring hook up support, and specific ROV intervention tasks relating to the SPAR completion. The vessel performed well in rough, winter conditions, and all assigned tasks were completed on schedule. The Northern Canyon is a 280-foot (85m) DP II vessel with accommodations for 58 personnel, a 50-ton active heave compensated crane, and a variety of other advanced features, making her ideal for deepwater intervention projects. The vessel is currently scheduled for a number of projects in 2004, but has some availability through March and has long-term availability on a global basis for upcoming projects or campaigns.

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