Pro-Dive Marine Services, and a subsidiary of Oceaneering International, Inc. (NYSE:OII) are proud to announce that they have signed an agreement to form a legally registered business entity operating under the name Pro-Dive Oceaneering Co. (PDOC). This new company has been formed for the purposes of bringing world class, deepwater rated remotely operated vehicles and intervention technology to clients operating in the growing oil and gas industry off the Canadian East Coast.

Pro-Dive, a Canadian company, with base facilities located in Nova Scotia and Newfoundland has been offering remotely operated vehicle (ROV) and diving services to clients operating off the East Coast of Canada for 18 years. Most recently it expanded into the field of subsea engineering and registered with the Association of Professional Engineers of Nova Scotia and the Association of Professional Engineers and Geoscientists of Newfoundland.

Oceaneering is recognized as the world leader in the development of deepwater intervention technology and the related design, manufacture, and operation of ROV systems. Oceaneering pioneered remote intervention in deepwater, and is the leading provider of ROV services to the offshore oil and gas industry around the world.

PDOC will offer clients the established local infrastructure, personnel and experience of Pro-Dive with the global deepwater expertise of Oceaneering to form a dynamic organization that is fully prepared to take on the challenges of industry activity off the Atlantic Canada coast.

Pro-Dive and Oceaneering have a relationship that developed over the last eight years as the two companies worked closely together on several offshore Canadian projects. PDOC is a natural progression of that relationship and offers a unique opportunity for Atlantic Canadians to take full advantage of the benefits and opportunities resulting from Canada's developing offshore industry.

"PDOC has committed to the hiring of local ROV pilot/technicians and will train them, at Oceaneering's Louisiana ROV simulator facility, for the purpose of acquiring the necessary skills to work on the ROV systems that will be operating offshore Canada. As a part of this technology transfer program, these employees will subsequently be assigned to work on Oceaneering’s existing worldwide fleet of ROV systems to accelerate their development of skills needed for deepwater remote intervention. I am proud of this new venture and its goal of employing only Canadian citizens to operate ROVs working off the East Coast of Canada," stated David Squires, President of Pro-Dive Marine Services.

For further information please contact Pro-Dive Oceaneering Co. at (902) 465-1171 or (709) 368-7666. E-mail: oceaneering@prodive.ca