Oceaneering International (OII) 8-K Oceaneering to Present at Deutsche Bank 2008 Energy and Utilities Conference

Exhibit 99.1

Oceaneering to Present at Deutsche Bank 2008 Energy and Utilities Conference

May 21, 2008 – Houston, Texas – Oceaneering International, Inc. (NYSE:OII) announced today that T. Jay Collins, President and Chief Executive Officer, will deliver a presentation at the 2008 Energy and Utilities Conference hosted by Deutsche Bank in Miami Beach, FL on Wednesday, May 28, 2008 at 2:00 p.m. Eastern Time.

Interested parties may listen to the presentation and view the slides live on the internet athttp://www.conferences.db.com/americas/energy08. An archived replay will be available for 30 days after the conference. The presentation slides will also be available for viewing using the Investor Relations link at Oceaneering’s website,www.oceaneering.com.

Oceaneering is a global oilfield provider of engineered services and products primarily to the offshore oil and gas industry, with a focus on deepwater applications.

For further information, please contact Jack Jurkoshek, Director Investor Relations, Oceaneering International, Inc., 11911 FM 529, Houston, Texas 77041; Telephone 713–329–4670; Fax 713–329–4653;www.oceaneering.com; E-Mailinvestorrelations@oceaneering.com.