Cal Dive Awarded Contract for Integrated Derrick Barge and Diving Services; Re-Deploys...

Cal Dive Awarded Contract for Integrated Derrick Barge and Diving Services;
Re-Deploys Vessels Internationally

HOUSTON, Jan. 22 /PRNewswire-FirstCall/ -- Cal Dive International, Inc.
(NYSE: DVR) announced today that it has been awarded a contract with a leading
independent oil and gas exploration and production company for salvage
preparation and platform salvaging work for hurricane damaged structures in
the Gulf of Mexico in water depths up to 230 feet. The day rate contract will
generate at a minimum approximately $35 million in revenue and 180 total
utilization days and will involve three of the Company's key assets including
the Kestrel, a dynamically positioned saturation dive support vessel, the
Atlantic, a derrick barge, and a portable saturation diving system. The
contract is expected to commence in early March 2008.
The Company also announced that it plans to re-deploy two of its assets
internationally. The Mystic Viking, a dynamically positioned saturation dive
support vessel, is preparing to mobilize to Trinidad for a multiple phase
pipeline tie-in project under a qualified turnkey contract with expected
revenue of approximately $33 million and the potential for additional work to
be earned on a day rate basis. The vessel will install mats, conduct pigging
and hydrostatic testing and complete all pipeline tie-ins in water depths up
to 520 feet.
The Company also installed one of its portable saturation diving systems
on the Texas, a dynamically positioned multi-service vessel, to give it full
saturation diving capabilities. The Texas has successfully completed the
Northeast Gateway project off the coast of Boston and is currently in transit
to the Mediterranean area with prospective work commencing in February 2008.
Quinn J. Hebert, President and Chief Executive Officer of Cal Dive,
stated, "We are pleased to announce these contract awards so soon after the
closing of our acquisition of Horizon Offshore as they illustrate our ability
to offer our customers an integrated solution and our commitment to expanding
our international operations. We look forward to continuing to execute on
these strategies."
Cal Dive International, Inc., headquartered in Houston, Texas, is a marine
contractor that provides manned diving, pipelay and pipe burial services, and
platform installation and salvage services to the offshore oil and gas
industry on the Gulf of Mexico Outer Continental Shelf, Mexico, the Middle
East, Southeast Asia and Australia, with a fleet of 34 vessels, including
24 surface and saturation diving support vessels, 7 pipelay/pipebury barges,
1 combination derrick/pipelay barge as well as 2 derrick barges.
SOURCE Cal Dive International, Inc.

G. Kregg Lunsford, Chief Financial Officer of Cal Dive International, Inc.,
+1-713-243-2713