Oceaneering International Inc, a firm that provides products and engineering services for the offshore oil and gas industry, plans a $5 million capital investment that will expand the company's Morgan City facilities by 30,000-square-feet, creating 200 jobs.

Louisiana Economic Development estimates the expansion will also create another 407 indirect jobs. "The $5 million facility expansion illustrates the commitment Oceaneering has to its Morgan City, Louisiana-based business," said Pat Mannina, Oceaneering's vice president and general manager for the Americas Region. "It will also allow us to improve operational efficiencies between several service lines and further improve the quality of services we provide to our customers operating in the Gulf of Mexico as well as worldwide."

About 120 of the new employees will be trained for production and performance of the company's core product: remotely operated vehicles, or ROVs, that perform technical tasks and inspections at up to two miles below the surface of the sea. Another 80 new employees will provide broad support for Oceaneering in St. Mary Parish, where operations also include diving, rigging, inspection, inventory and administration.

Gov. Bobby Jindal said this expansion is a sign that the oil industry is returning to the gulf coast. "In a couple weeks, we will mark the second anniversary of the Deepwater Horizon explosion and spill that took eleven lives, devastated our coastline and threatened thousands of oil and gas industry jobs in our state. Two years later, I'm proud to note that we are coming back from the oil spill and the moratorium even stronger and better than before." He added this expansion "is a sign of the progress we are making to get our people back to work so we can fuel the nation. Oceaneering's expansion is a testament to the hardworking people of Louisiana and yet another sign that Louisiana's business climate is one of the best in the country," he explained.

As an incentive, Louisiana Economic Development's FastStart job training program will assist the company in screening, hiring and training new employees.

"Ultra-deepwater production represents a key driver for the future of Louisiana's economy," LED Secretary Stephen Moret said. "As one of the crucial companies supporting this facet of our oil and gas industry, Oceaneering will help Louisiana benefit from increased drilling activity in offshore fields that can keep our nation's energy strategy diversified and well-balanced. A great byproduct of that strategy for Louisiana is that Oceaneering and other firms that work in the Gulf provide some of the top-paying jobs in our state."