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OCEANEERING INTERNATIONAL, INC. ISSUES STATEMENT ON STOCK ACTIVITY

 OCEANEERING INTERNATIONAL, INC. ISSUES STATEMENT ON STOCK ACTIVITY
 HOUSTON, Aug. 28 /PRNewswire/ -- Following a request from the New York Stock Exchange, Oceaneering International, Inc., (NYSE: OII) issued the following statement in response to today's increased stock price and large trading volume:
 "The assessment of conditions in the Gulf of Mexico following the devastation of hurricane Andrew is still underway. Based on the initial responses of our customers, we anticipate significant activity in assisting with the inspection and repair of Gulf of Mexico platforms, pipelines, and other facilities. Our Morgan City, Louisiana, office is fully operational, and we are mobilizing resources and equipment from our worldwide offices to meet our customers' needs," stated John R. Huff, chairman, president, and chief executive officer of Oceaneering.
 Oceaneering, together with its affiliate companies, is one of the world's largest underwater services companies. Oceaneering supplies a comprehensive range of integrated technical services to a wide array of industries. Principal services are directed to the offshore oil and gas industry and include drilling support; subsea construction; production systems; facilities maintenance and repair; survey and positioning; engineering; and specialized inspection, both offshore and onshore.
 -0- 8/28/92
 /CONTACT: Beth O'Sullivan, corporate communications and investor relations manager of Oceaneering International, Inc., 713-578-8868/
 (OII) CO: Oceaneering International, Inc. ST: Texas IN: SU:


DC -- NY047 -- 4587 08/28/92 16:52 EDT
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Publication:PR Newswire
Date:Aug 28, 1992
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