Cal Dive enters into partnership with Fugro Cal Dive International announced that it has entered into a 50/50 strategic partnership with Fugro for the long-term charter of the DP2 Toisa Paladin, a 2007 purpose built, DNV classed, diving support vessel. The charter party agreement with Toisa Pte Ltd will be shared equally between Cal Dive and Fugro and has a three-year term plus two six-month extension periods. Cal Dive and Fugro will bring together their respective expertise to jointly pursue the growing number of subsea projects to provide construction, diving, ROV and other services to the offshore energy industry. The Toisa Paladin is currently working on its first project in Malaysia. Cal Dive also announced that it has entered into a three-year frame agreement with a major international oil and gas operator under which it expects to keep the Toisa Paladin utilized through the end of the year.
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Cal Dive awarded two additional Pemex contracts totaling $188M Cal Dive has been awarded two additional contracts from Pemex Exploración y Producción for the procurement, installation and commissioning of subsea pipelines that are expected to generate combined total revenues of approximately $188M. The first contract is expected to generate revenues of approximately $129M. The offshore construction is expected to commence in Q3 with a portion of the work expected to be performed during Q1 2014. The second contract is expected to generate revenues of approximately $59M and is expected to commence in Q4 and is expected to be completed by the end of Q2 2014.
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