ODI Awarded Contract By Tyco Telecommunications For Subsea Fiber Optic Connection System For Gulf of Mexico Project
Ocean Design, Inc., (ODI), a Teledyne Technologies Incorporated (NYSE: TDY) majority owned company and a world leader in subsea electrical and fiber-optic interconnect systems, has announced Tyco Telecommunications (US) Inc. has awarded ODI a contract for the manufacture and supply of a fully integrated fiber-optic communications connection system for its BP Gulf of Mexico Fiber Optic Network project. The Gulf of Mexico Fiber Optic Network contract was awarded to Tyco by BP America Inc. to deliver a subsea telecommunications network to be deployed in the Gulf of Mexico in 2007.
The system will comprise the undersea backbone of a regional communications network, providing connectivity between BP's Gulf of Mexico offshore production facilities and the regional operating center in Houston, Texas. The system will initially link seven deep water oil & gas drilling and production platforms with landings in Freeport, Texas and Pascagoula, Mississippi. The network incorporates an upgrade capability designed to support 64 platforms.
This contract reinforces ODI's position as a market leader in the supply of subsea, wet-mate, fiber-optic connection systems to the offshore oil and gas industry. The system will utilize ODI's MCDU product, which provides connectivity for Tyco's Fiber Distribution Canisters and Deployment Pallets, and ODI's Rolling-Seal Connectors, which offer fully wet-mateable connections for optical communication.
"Communications systems to high value production platforms, now further offshore in deep water, require the innovative application of undersea fiber optic technologies, especially in an environment that is susceptible to hurricanes," said Rob Munier, managing director for global solutions at Tyco Telecommunications. "The system we are building will set a new standard for offshore communications systems."
ODI is a technology-focused provider of innovative engineered solutions, employing skilled staff and state-of-the-art equipment and processes to design and manufacture a broad range of products for harsh environment system interconnectivity. The recent acquisition of a majority interest in ODI by Teledyne Technologies is also expected to strengthen the company's ability to achieve future growth and meet the technological challenges of the subsea industry.
This press release contains forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995, with respect to ODI's business and prospects. Actual results could differ materially from these forward-looking statements. Many factors, including the growth prospects of the offshore oil and gas industry and technological challenges, could cause actual results to differ materially from those projected in the forward-looking statements. ODI assumes no duty to update forward-looking statements.
For more information on ODI please see www.odi.com
Wright Marketing Works, Inc.
386.236.0780 Ext. 1367
Teledyne Technologies Investor Contact: