posted in:

Cal Dive awarded Pemex contract and provides first quarter 2013 market update

Thursday, Mar 28, 2013

Cal Dive International, Inc. (NYSE:DVR) announced today that it has been awarded a contract by Pemex Exploración y Producción for the engineering, procurement, installation and commissioning of 12 kilometers of eight inch subsea pipeline and associated tie-ins on four existing platforms located in the Abkatun-Pol-Chuc Field in the Bay of Campeche. The contract is expected to generate total revenue of approximately $63 million and will utilize three of the Company’s vessels. The offshore construction is expected to commence in the third quarter 2013.

The Company is also providing an update on its previously disclosed expected first quarter results. The current expectation is that the first quarter results will be lower than those estimated during the fourth quarter 2012 earnings conference call but still significantly improved over first quarter of 2012. The primary reasons for the adjustment in estimate include zero utilization days in March for the dive support vessel Texas in West Africa due to the unexpected cancellation of its contracted work that was previously scheduled for the month due to a change in the client’s project plans, higher than expected employee medical costs, and lower than expected pricing for surface diving services in the U.S. Gulf of Mexico.

Source: Business Wire

To access over 3,500 of the latest oil projects from across the world visit Projects OGP for free trial today

posted in:

Other Project News

Prysmian, € 30 m contract in Abu Dhabi 23-04-2014
Ennsub wins major contract to build two ultra-deepwater ROV deployment systems 23-04-2014
Fred. Olsen Energy ASA provide project and operational updates 22-04-2014
Technip wins Umbilical contract for Kaombo project in Angola 18-04-2014
Saipem announces awarded FPSO contracts in Angola worth more than $4 billion 18-04-2014
Shell announces Malaysia deep-water gas discovery 17-04-2014
Octagon 88 Resources announces Red Earth light oil project update 16-04-2014
Lamprell has received a new contract award for the construction and delivery of two Mobile Offshore Drilling Platforms 16-04-2014
New Dragados offshore contract secured for IKM Testing 16-04-2014
Ezion Secures a contract with an approximate value of USD43.7 million over a 3 year period to provide a service rig to support a South Asian Based Nat 16-04-2014

Advertisers





[