Under the terms of the contract, Oceaneering will provide project management, engineering and vessel services for BP on Blocks 18 and 31 beginning on 1 February, 2012.
In addition, the contract includes two option periods of one year each, exercisable by BP. Oceaneering will supply BP with two chartered vessels, the Ocean Intervention III and the Bourbon Oceanteam 101.
Each vessel will be outfitted with a pair of Oceaneering work class remotely operated vehicles capable of working in 3,000m of water.
Oceaneering will mobilise the Ocean Intervention III from the US Gulf of Mexico to Angola commencing in early January 2012.
The scope of work includes light subsea construction, inspection, maintenance and repair services on existing and future subsea infrastructure.
In addition, the contract provides BP with an option for a third vessel after the commencement date.
Oceaneering president and CEO M. Kevin McEvoy said the company is pleased to secure this contract with BP.
This project builds on our well-established deep water vessel project capabilities in the US Gulf of Mexico and represents a significant geographic expansion with considerable backlog for our subsea projects business, added McEvoy.
The contract further reinforces long-term commitment to Angola, which is a growing market for Oceaneering’s services and products.
The contract is expected to commence in the beginning of 2012, with the the scope of the work to expand gradually during the first half of the 2012.