Oceaneering International, Inc. (NYSE:OII) announced that it has secured a contract with Exxon Mobil Corporation to supply a production control umbilical for its Julia field development located in the Gulf of Mexico Walker Ridge block.
The order is for an electro-hydraulic, steel tube umbilical approximately 14 miles (22.5 kilometers) in length. Product manufacturing will be performed at Oceaneering’s facility in Panama City, Florida, with delivery scheduled for early 2015.
The umbilical will be used to supply hydraulic control fluids, chemicals, and electrical power signals to operate and monitor the subsea wells and manifold used in the field. The water depth at the installation location is approximately 7,200 feet.
Capital cost for the whole Julia development project , which is expected to begin oil production in 2016, is estimated to be more than $4 billion. The field was discovered in 2007 and is estimated to have nearly six billion barrels of resource in place.