Cal Dive International, Inc. announced that it has been awarded two additional contracts by Pemex Exploración y Producción expected to generate combined total revenues of approximately USD 188M. The first contract is for the procurement, installation and commissioning of 47km of 20-inch subsea pipeline and associated tie-ins to an existing platform. This contract is expected to generate revenues of approximately USD 129M and will utilize two of the company’s vessels as well as a third party vessel. The offshore construction is expected to commence in the third quarter 2013 with a portion of the work expected to be performed during the first quarter 2014. The second contract is for the procurement, installation and commissioning of 9km of two medium diameter subsea pipelines and associated tie-ins to existing platforms. This contract is expected to generate revenues of approximately USD 59M and will utilize a third party vessel and a company dive support vessel. The offshore construction for this contract is expected to commence in the fourth quarter 2013 and is expected to be completed by the end of the second quarter 2014.
Mr Quinn Hébert, Chairman, President and CEO of Cal Dive, stated “…These recent contract awards not only secure work for the second half of 2013, but also provide significant visibility for the first half of 2014 when our domestic business is historically slow due to the winter work season. Also, we continue to bid for additional work in Mexico that would mostly benefit our 2014 results.”
