American Oilfield Divers, Inc. Subsidiary Receives Significant Contract Award From Chevron USA.OXNARD, Calif.--(BUSINESS WIRE)--March 6, 1995--American Oilfield Divers, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :DIVE) announced today its subsidiary American Pacific Marine, Inc. has received a contract award from Chevron USA for approximately $8.5 million. The project requires the abandonment of four Chevron platforms in up to 140 foot water depths off the coast of Santa Barbara Santa Barbara (săn'tə bär`brə, –bərə), city (1990 pop. 85,571), seat of Santa Barbara co., S Calif., on the Pacific Ocean; inc. 1850. , Calif. American Pacific Marine, Inc. (APM (Advanced Power Management) A programming interface (API) from Intel and Microsoft for battery-powered computers that lets programs communicate power requirements to slow down and speed up components. See ACPI. APM - Advanced Power Management ) expects to begin work on the project in July of this year with completion expected in four months. "This is another significant contract award for our West Coast subsidiary. The project award echoes the success of our expansion strategy," said Sonny Freeman, COO and Executive Vice President of American Oilfield Divers. "The technical and operational capacity, as well as the geographic locale this subsidiary offers, have positioned the company to pursue and perform these larger and more complex projects." American Oilfield Divers, Inc., headquartered in Lafayette, Louisiana, is a leading provider of a broad range of undersea construction, installation, repair and maintenance services to the offshore oil and gas industry, primarily in the U.S. Gulf of Mexico Noun 1. Gulf of Mexico - an arm of the Atlantic to the south of the United States and to the east of Mexico Golfo de Mexico Atlantic, Atlantic Ocean - the 2nd largest ocean; separates North and South America on the west from Europe and Africa on the east and U.S. West Coast, internationally and to U.S. inland customers. The Company manufactures and installs subsea Subsea is a general term frequently used to refer to equipment, technology, and methods employed to explore, drill, and develop oil and gas fields that exist below the ocean floors. This may be in "shallow" or "deepwater". pipeline connectors and marginal well production systems that are typically installed through the use of the Company's dive crews and diving support vessels. The Company also provides general environmental and oil spill response services, pipeline and marine construction support services support services Psychology Non-health care-related ancillary services–eg, transportation, financial aid, support groups, homemaker services, respite services, and other services , and owns a fleet of 15 DSVs it operates in the U.S. Gulf of Mexico, U.S. West Coast and in international locations. CONTACT: American Oilfield Divers, Inc., Lafayette John Deats, 318/234-4590 |
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