The order is for electro-hydraulic steel tube control umbilicals totaling approximately 34 kilometers (21 miles) in length and a hardwired communication link (HCL) umbilical about 15 kilometers (9.5 miles) in length. Product manufacturing is planned to be performed at the Oceaneering Multiflex facility in Panama City, Florida.
The control umbilicals will be used to transmit hydraulic control fluids, chemicals, and electrical power signals to operate and monitor subsea wells and manifolds for the development of the Mavacola and Clochas fields in Block 15. The HCL umbilical will be utilized for communication between the Kizomba A and Kizomba B Floating Production Storage and Offloading systems.
In accordance with the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995, Oceaneering International, Inc. cautions that statements in this press release which are forward-looking involve risks and uncertainties that may impact Oceaneering's actual results. The forward-looking statement in this press release concerns the plan for manufacturing to be performed at its facility in Panama City. Although Oceaneering's management believes that the expectation reflected in this forward-looking statement is reasonable, Oceaneering can give no assurance that the expectation will prove to have been correct. The statement is made based on various underlying assumptions and is subject to numerous uncertainties and risks, including without limitation, changes in project design or schedule, contract cancellation, change orders and other modifications, and difficulties executing on the project. If one or more of these risks materialize, or if underlying assumptions prove incorrect, actual results may vary materially from those expected. For a more complete discussion of these and other risk factors, please see Oceaneering's annual report on Form 10-K for the year ended December 31, 2008 and subsequent quarterly reports on Form 10-Q filed with the Securities and Exchange Commission.
Oceaneering is a global oilfield provider of engineered services and products primarily to the offshore oil and gas industry, with a focus on deepwater applications. Through the use of its applied technology expertise, Oceaneering also serves the defense and aerospace industries.
