Mexico: Pemex Awards Cal Dive $188 Mln Worth of Offshore Contracts

Mb50's "Liquid Mud" Rant

Cal Dive International, Inc.  has been awarded two additional contracts from Pemex Exploración y Producción that are expected to generate combined total revenues of approximately $188 million.

The first contract is for the procurement, installation and commissioning of 47 kilometers of 20 inch subsea pipeline and associated tie-ins to an existing platform. This contract is expected to generate revenues of approximately $129 million and will utilize two of the Company’s vessels as well as a third party vessel. The offshore construction is expected to commence in the third quarter 2013 with a portion of the work expected to be performed during the first quarter 2014.

The second contract is for the procurement, installation and commissioning of nine kilometers of two medium diameter subsea pipelines and associated tie-ins to existing platforms. This contract is expected to generate revenues of approximately $59 million and will utilize a third party vessel and a…

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