Oceaneering Announces Quad 204 Umbilical Order

Thu Feb 7, 2013 5:00pm EST

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HOUSTON,  Feb. 7, 2013  /PRNewswire/ -- Oceaneering International, Inc.
(NYSE:OII) announced that it has secured an order from BP Exploration Operating
Company Limited (BP), a subsidiary of BP plc (NYSE:BP), to supply umbilicals for
BP's Quad 204 field development west of Shetland, United Kingdom.  This order
adds over $45 million to Oceaneering's Subsea Products backlog.

The order is for two riser and five infield umbilicals totaling approximately 19
kilometers (11.8 miles) in length.  These will be used to supply electrical and
hydraulic power and chemical injection to subsea trees and production manifolds
located at the Quad 204 drill centers.

Product manufacturing is planned to be performed in three phases at the
Oceaneering Umbilical Solutions facility in Rosyth, Scotland.  The first phase
is scheduled to commence in the first quarter of 2013 and the third phase is
anticipated to be completed in the second quarter of 2015.   

This order is the first issued by BP under a ten-year term Global Subsea
Hardware Umbilical Agreement executed between BP and Oceaneering during the
third quarter of 2012.  Under the agreement, Oceaneering has committed to supply
umbilicals and ancillary equipment and services to BP at mutually agreeable
order specifications and terms.

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 that 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:  statement about
backlog, to the extent backlog may be an indicator of future revenue or
profitability; planned product manufacturing location; and scheduled
commencement and completion dates.  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 advanced applied technology expertise,
Oceaneering also serves the defense 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; E-Mail  investorrelations@oceaneering.com.

SOURCE  Oceaneering International, Inc.

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