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March 17, 2008
Oceaneering Acquires GTO Subsea For $45MM

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Oceaneering International Inc., Houston, (NYSE: OII) has acquired GTO Subsea AS for approximately $45 million.


GTO is a rental provider of specialized subsea dredging and excavation equipment, including remotely operated vehicle (ROV) deployed units, to the offshore oil and gas industry. GTO equipment is used for subsea suction, transport and disposal of sand, clay and rock associated with ocean floor construction, decommissioning and drill-support activities.

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