The SVII Camera is a small underwater vehicle that takes 360 degree panoramic pictures. It's propelled by a small engine that is guided by a diver. The engine allows it to travel at 4 kilometers per hour as it takes pictures every few seconds. It was built specifically for the Caitlin Seaview Survey.
The Caitlin Seaview Survey is a scientific expedition created to photographically map the Great Barrier Reef off the coast of Australia. The project has been called Google's Street View underwater. The main goal is to study and document the ecosystem. Its residual effect will be to give regular people an amazing view of an underwater world the likes of which we could have only imagined in the past.
Check out the video below for details about the project I encourage you to visit their website where you can view a demo of the survey by Clicking Here.