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SOUTH AFRICAN DEVELOPMENT EYED

Jan. 30, 1995

A combine of Soekor (Pty) Ltd. 80% and Engen 20%, both of South Africa, has signed a letter of intent calling for Oceaneering International Inc., Houston, to develop and produce E-BT oil field and nearby discoveries off South Africa. Oceaneering unit Oceaneering Production Systems has an engineering study under way to determine development cost, currently estimated at $75 million, and confirm feasibility of the project. A development plan is based on subsea wells tied into a mobile offshore

Oceaneering unit Oceaneering Production Systems has an engineering study under way to determine development cost, currently estimated at $75 million, and confirm feasibility of the project.

A development plan is based on subsea wells tied into a mobile offshore production system.