Cal Dive International has been awarded a contract by a large oil and gas company in China for pipe lay work in Bohai Bay. The day rate contract will generate total revenue of approximately $32 million and involve 130 total utilization days, utilizing the derrick/lay barge Sea Horizon. The offshore construction is expected to commence in May 2009.
Quinn Hébert, President and Chief Executive Officer of Cal Dive, stated, “We are excited to announce this project win along with the recently awarded Pemex contract. These contracts are adding significant revenue to our international backlog as we remain focused on expanding our operations abroad.”