Cal Dive Secures Saturation Diving Jobs in Mexico and Australia

Cal Dive Charters DP Saturation Diving Vessel Kestrel (USA)

Cal Dive International, Inc. announced that it has recently commenced a two-year charter of the DP saturation diving vessel Kestrel to a major contractor in Mexico to perform repair and maintenance work for Pemex.

The charter started in mid-October and has a fixed term of two years with an additional one-year option. The charter is expected to result in EBITDA of approximately $10 million per year during the two-year charter term. The vessel is expected to generate approximately break-even EBITDA in 2012.

In addition, Cal Dive has been awarded three saturation diving contracts in Australia. Two of the projects will utilize one of Cal Dive’s portable saturation diving systems while the third contract will be performed from a third party vessel utilizing a built in saturation diving system. These three contracts are expected to generate total revenue of approximately $20 million during 2013 and the first project is expected to commence in the first quarter 2013.

Quinn Hébert, President and Chief Executive Officer of Cal Dive, stated, “We are pleased to announce the saturation diving contracts in Australia and the charter of the Kestrel in Mexico. Both awards demonstrate the continued execution of our strategy to geographically diversify outside the U.S. Gulf of Mexico. The charter of the Kestrel is also consistent with our strategy to commit certain assets to long-term contracts that improve visibility. The charter is of additional significance due to the EBITDA improvement it will generate in 2013.”

Cal Dive International, Inc., headquartered in Houston, Texas, is a marine contractor that provides an integrated offshore construction solution to its customers, including manned diving, pipelay and pipe burial, platform installation and platform salvage services to the offshore oil and natural gas industry on the Gulf of Mexico OCS, Northeastern U.S., Latin America, Southeast Asia, China, Australia, the Middle East, West Africa and the Mediterranean, with a diversified fleet of surface and saturation diving support vessels and construction barges.

Press Release, October 19, 2012

Share this article

Follow Subsea World News

Events>

<< Mar 2017 >>
MTWTFSS
27 28 1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 31 1 2

The 22nd lnternational Offshore Crane and Lifting Conference

The Norwegian Society of Lifting Technology (NSLT) & The Offshore Mechanical Handling Equipment Committee (OMHEC) invite you …

read more >

OMC 2017

OMC mission is serving all people interested in the Mediterranean Offshore Industry…

read more >

Ocean Business 2017

Ocean Business 2015 was phenomenally successful, with visitor numbers up an incredible 29%. The overall attendance was a staggering 4,589…

read more >

International Connectivity and Cables Conference

Meet and network with leading telecom operators and OTTs including du, Etisalat, Omantel, Saudi Telecom Company, Yahoo, Angola Cables…

read more >