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    Oceaneering contracted to provide MOPU

    News // May 22, 2000
    Oceaneering International Inc has been awarded a contract to provide a Mobile Offshore Production Unit (MOPU) for development of the Legendre North and South oil fields in WA-1-P on the North West Shelf of Western Australia.

    Participants in the Legendre fields are Woodside Energy Ltd, Apache Northwest Pty Ltd, and Santos Limited. Oceaneering will convert its jack-up Marine 7 to serve as the Legendre MOPU.

    The contract is a day rate services arrangement with a primary term of three years. The oil company participants have announced that they anticipate production to commence by mid-2001. Assuming the project is completed on schedule and within budget, Oceaneering expects to realise incremental earnings of $0.30 per share annually during this primary contract term.

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