Oceaneering Announces Umbilical Contract for the ExxonMobil Julia Project

  Oceaneering Announces Umbilical Contract for the ExxonMobil Julia Project

PR Newswire

HOUSTON, June 27, 2013

HOUSTON, June 27, 2013 /PRNewswire/ -- Oceaneering International, Inc.
(NYSE:OII) announced that it has secured a contract with Exxon Mobil
Corporation (NYSE:XOM) to supply a production control umbilical for its Julia
field development located in the Gulf of Mexico Walker Ridge block.

The order is for an electro-hydraulic, steel tube umbilical approximately 14
miles (22.5kilometers) in length. Product manufacturing will be performed at
Oceaneering's facility in PanamaCity, Florida, with delivery scheduled for
early 2015.

The umbilical will be used to supply hydraulic control fluids, chemicals, and
electrical power signals to operate and monitor the subsea wells and manifold
used in the field. The water depth at the installation location is
approximately 7,200 feet.

In accordance with the Safe Harbor provisions of the Private Securities
Litigation Reform Act of 1995, Oceaneering International, Inc. cautions that
statements in this press release which are forward-looking involve risks and
uncertainties that may impact Oceaneering's actual results. The
forward-looking statements in this press release concern Oceaneering's planned
product manufacturing location and delivery date, and the use of the
umbilical. Although Oceaneering's management believes that the expectations
reflected in these forward-looking statements are reasonable, Oceaneering can
give no assurance that these expectations will prove to have been correct.
These statements are made based on various underlying assumptions and are
subject to numerous uncertainties and risks including, without limitation,
changes in project design or schedule, contract cancellation, change orders
and other modifications, and difficulties executing on the project. If one or
more of these risks materialize, or if underlying assumptions prove incorrect,
actual results may vary materially from those expected. For a more complete
discussion of these and other risk factors, please see Oceaneering's filings
with the Securities and Exchange Commission.

Oceaneering is a global oilfield provider of engineered services and products,
primarily to the offshore oil and gas industry, with a focus on deepwater
applications. Through the use of its applied technology expertise,
Oceaneering also serves the defense, entertainment, and aerospace industries.

For further information, please contact Jack Jurkoshek, Director Investor
Relations, Oceaneering International, Inc., 11911 FM 529, Houston, Texas
77041;
Telephone 713‑329‑4670; www.oceaneering.com; E-Mail
investorrelations@oceaneering.com.

SOURCE Oceaneering International, Inc.

Website: http://www.oceaneering.com
 
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