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Oceaneering - Press Release - January 26, 2004

Oceaneering Acquires SpiderBOT ROVs

Oceaneering International, Inc. (NYSE:OII) announced the acquisition of SpiderBOT Remotely Operated Vehicle (ROV) technology and assets from Dark Matter, L.L.C. The technology enables completion of unique subsea missions using these small ROVs, which achieved notoriety for conducting highly successful interior surveys and high-resolution film documentation of the Titanic and Bismarck shipwrecks in water depths of nearly three miles.

Advanced onboard systems enable complex operations in water depths to 20,000 feet. Unlike most ROVs, power is provided onboard using a high energy density battery system. A small diameter, expendable fiber-optic tether deployed from a SpiderBOT ROV provides command and control while supplying feedback to the operator of real time high-resolution video images and status of onboard system health. These ROVs have demonstrated an unequalled ability to penetrate confined spaces because of their small size and proprietary maneuvering systems.

Duncan McLean, Vice President and General Manager of Oceaneering Technologies, said, “We are particularly enthusiastic about the capabilities offered by this new technology. It will complement Oceaneering’s larger work class ROVs and minimize their exposure to damage during difficult subsea operations. We expect to provide expanded ROV services with the SpiderBOT ROVs to both our oilfield and government Customers, such as close-in inspection of subsea equipment, improved search and recovery operations, documentation of shipwrecks, and security inspections of vessels and piers.”

Oceaneering is an advanced applied technology company that provides engineered services and hardware to Customers who operate in marine, space, and other harsh environments. Oceaneering’s services and products are marketed worldwide to oil and gas companies, government agencies, and firms in the telecommunications, aerospace, and marine engineering and construction industries.

For further information, please contact Don Welch, Vice President Business Development, 501 Prince Georges Boulevard, Upper Marlboro, MD 20774 or Jack Jurkoshek, Manager Investor Relations, Oceaneering International, Inc., 11911 FM 529, Houston, Texas 77041; Telephone 713-329-4670; Fax 713-329-4653; www.oceaneering.com; E-Mail investorrelations@oceaneering.com.



 


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