Oceaneering Announces $200m Worth of Contracts

Oceaneering has announced several contracts for its manufactured products segment, totaling approximately $200 million in value.

The new contracts have been primarily secured with international oil and gas operators, but also include marine construction firms. The contracts range in value, starting from less than $10m to more than $100m, the Houston-based company has said.

A significant portion of the projected value is attributed to two contracts. One pertains to a substantial greenfield project in the Gulf of Mexico, entailing the provision of approximately 34 km of electro-hydraulic steel tube umbilicals and associated subsea distribution hardware. Delivery is scheduled for the third quarter of 2026. The second contract involves the subsequent phase of a staged development in the Black Sea and requires the delivery of 45 km of umbilicals by the third quarter of 2025.

President and CEO of Oceaneering, Rod Larson, stated: “These contract awards validate the continued necessity for stability in global offshore energy production, and demonstrate customer confidence in our ability to support their operations to meet energy demand.”