Oceaneering nets Transocean contract

Oceaneering - Press Release
Thursday, February 14, 2013

Oceaneering to provide 3 BOP control systems

Multiplex Control Pod (Image: Oceaneering)

Oceaneering International, Inc. secured contracts with a subsidiary of Transocean Ltd. to provide three subsea blowout preventer (BOP) control systems. These contracts add over $40 million to Oceaneering’s Subsea Products backlog.

The contracts are for discrete hydraulic systems that will be used on existing semisubmersible drilling rigs that Transocean is modifying to comply with the American Petroleum Institute’s recently issued standard API 53, which requires subsea BOPs with a single shear ram to be upgraded or replaced. These systems will be manufactured at the Oceaneering Intervention Engineering facility in Houston, with deliveries anticipated in the 4Q 2013 and the 1Q 2014.

"These contract awards are evidence of our ability to provide subsea hardware engineered to provide superior quality, performance and reliability," said M. Kevin McEvoy, President and Chief Executive Officer. "Our BOP control systems are engineered to meet these criteria and to have low maintenance requirements, thereby maximizing rig uptime."

Categories: Subsea Equipment Activity Rigs

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