Cal Dive forms joint venture to pursue offshore wind project

Houston, April 11, 2012 — Cal Dive International, Inc. is forming a joint venture with Flatiron Construction Corp. and Cashman Equipment Corp. to pursue a major offshore wind project.

The joint venture, of which Cal Dive will own a minority interest, has been designated preferred contractor by Cape Wind Associates, LLC for the Cape Wind Project located on Nantucket Sound.

The preferred contractor designation empowers the joint venture to assist Cape Wind, on an exclusive basis, in project planning, financing and refinement of the project cost of construction. Final award and execution of the project construction contract is expected to occur in 2012, with project construction expected to begin in 2013.

Cal Dive International, Inc., headquartered in Houston, Texas, is a marine contractor that provides an integrated offshore construction solution to its customers, including manned diving, pipelay and pipe burial, platform installation and platform salvage services to the offshore oil and natural gas industry on the Gulf of Mexico OCS, Northeastern U.S., Latin America, Southeast Asia, China, Australia, the Middle East and the Mediterranean, with a fleet of 28 vessels, including 18 surface and saturation diving support vessels and 10 construction barges.

Flatiron Construction Corp., with a construction volume of more than $1 billion in 2011, is one of the leading providers of transportation construction and civil engineering in North America.

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