Oceaneering's contract with BP Angola extended

9/11/2014

Oceaneering's contract with BP Angola extended

HOUSTON -- Oceaneering International has reported that BP has exercised both one-year options to extend the field support vessel services contract with Oceaneering for work offshore Angola on blocks 18 and 31.

Under this contract term extension, Oceaneering will continue to provide project management, engineering, and vessel services through January 2017.

Two chartered vessels, the Ocean Intervention III and the Bourbon Oceanteam 101, will continue to be supplied during the contract term extension.

Each vessel is outfitted with two Oceaneering work class ROVs capable of working in 3,000 m of water. The contract scope of work includes light subsea construction and inspection, maintenance, and repair services on existing and future subsea infrastructure. The contract has a provision for Oceaneering to continue to provide during the extension period, at BP’s option, a third vessel on a mutually agreed, as-needed basis. The third vessel currently being provided is the Bourbon Evolution 803, which is contracted through January 2015.

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