The Oceaneering-owned vessel is working under a services contract with Woodside Energy, on behalf of a joint venture comprising Woodside, Apache Energy, and Santos.

The new operating dayrate over the next four years will average approximately $69,000, or $775 per day per million dollars of the unit's capital cost of $89 million. This is a saving of $19,000 per day under the previous arrangement.

Oceaneering chief John Huff said he was pleased the production from the Legendre fields and Woodside's satisfaction level with our operations had prompted the client to exercise its option to extend vessel's contract term.

"The two-year extension increases the contracted amount of cash flow we will realize from our investment in this MOPS asset and improves the visibility of the Company's long-term future earnings."