Cal Dive wins decommissioning contract in the Gulf of Mexico
Cal Dive International, Inc has secured a contract for field abandonment and decommissioning from an operator in the Gulf of Mexico.
The contract will generate total revenue of approximately $25m and will utilize two of the company's key assets.
Scope of work under the terms of the contract includes the abandonment of sixteen wells, seven pipelines, and the removal of eight structures.
The company said the project work will start in the first quarter of 2012 and is expected to be completed by the end of June 2012.
Cal Dive president and CEO Quinn Hebert said the company is pleased to secure it first decommissioning program contract in the Gulf of Mexico.
"We expect 2012 to be an active year for salvage work in the Gulf of Mexico as regulators encourage producers to remove idle iron," Hebert said.
US based Cal Dive International is a marine contractor that provides an integrated offshore construction solution.
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