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Offshore News: Oceaneering Announces Botnica Charter

Posted on 22.11.2005 - 15:19 EST in OFFSHORE NEWS by admin

OceaneeringOceaneering International, Inc. (NYSE:OII) announced a charter for use of the multiservice vessel Botnica in the Gulf of Mexico (GOM). This vessel will augment Oceaneering’s ability to repair the offshore infrastructure damage caused by Hurricanes Katrina and Rita. Initially, Oceaneering intends to use the Botnica to perform deepwater pipeline repairs. Other work assignments may include salvage, well killing, and platform repair operations.

The contract term is 60 days, anticipated to start later this month. Oceaneering has an option to extend the term for one 30-day period. Continued use of the vessel beyond this time is subject to negotiation. The Botnica, owned by the Finnish Maritime Administration, is a combined offshore support vessel designed to undertake subsea well servicing and construction operations and also to perform icebreaking duties. It was placed in service in 1998 and is equipped with a DP-3 dynamic position station-keeping system and a 160 metric ton heave-compensated crane. The vessel has two Oceaneering Hydra® MAGNUM ROV systems currently onboard. Upon arrival in the GOM, Oceaneering’s M7 saturation diving system will be installed.

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Source: Oceaneering Press Release
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