Cal Dive International Inc (CDVIQ)

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Cal Dive Awarded Pemex Contract
Date : 03/05/2009 @ 8:30AM
Source : Business Wire
Stock : Cal Dive International, Inc. (DVR)
Quote : 6.74 -0.04 (-0.59%) @ 2:42PM


Cal Dive Awarded Pemex Contract





Cal Dive International, Inc. (NYSE:DVR) announced today that it has been awarded a contract by Pemex Exploración y Producción for the installation of 13.9 kilometers of 20 inch subsea pipeline located in the Litoral Tabasco Field in 30 meters of water. The lump sum contract will generate total revenue of approximately $58 million and involve 114 total utilization days, utilizing two of the Company’s key assets, including a pipelay barge and a derrick barge. The offshore construction is expected to commence in May 2009.


Cal Dive International, Inc., headquartered in Houston, Texas, is a marine contractor that provides an integrated offshore construction solution to its customers, including manned diving, pipelay and pipe burial, platform installation and platform salvage services to the offshore oil and natural gas industry on the Gulf of Mexico OCS, Northeastern U.S., Latin America, Southeast Asia, Australia, the Middle East, India and the Mediterranean, with a fleet of 31 vessels, including 21 surface and saturation diving support vessels and 10 construction barges.