Oceaneering, a leading provider of integrated products and services for the offshore energy industry, has announced significant contract wins in its Manufactured Products segment, with anticipated revenues ranging from less than $10 million to over $100 million. These contracts, primarily with international oil & gas operators and marine construction companies, underscore Oceaneering’s continued prominence in the global offshore energy landscape.
Of particular note are two substantial contracts that constitute a significant portion of the projected value. The first contract pertains to a major greenfield development project in the Gulf of Mexico. Oceaneering’s scope of work involves supplying electro-hydraulic, steel tube umbilicals spanning approximately 34 kilometers in length, along with supporting subsea distribution hardware. Production for this project is slated to take place at Oceaneering’s facilities in Panama City, Florida, and Houston, Texas, with final delivery expected in the third quarter of 2026.
The second notable contract relates to the next phase of a staged development initiative in the Black Sea. Under this contract, Oceaneering will provide electro-hydraulic, steel tube dynamic and static umbilicals totaling approximately 45 kilometers in length, alongside subsea distribution hardware. Production for this project will occur at Oceaneering’s facility in Rosyth, Scotland, commencing in 2024, with final delivery anticipated in the third quarter of 2025.
Additionally, Oceaneering has secured various other contracts in its Q4 2023 order intake. These contracts encompass a range of scopes, including the supply of additional subsea production umbilicals and umbilical termination hardware, Grayloc and Rotator products, as well as mobility solutions products.
Commenting on these contract awards, Rod Larson, President and Chief Executive Officer at Oceaneering, emphasized their significance in affirming the ongoing stability of global offshore energy production. Larson expressed confidence in Oceaneering’s ability to meet customer demands and deliver on unique work scopes safely and efficiently.
These contract wins further solidify Oceaneering’s position as a premier provider of high-quality integrated products and services to both energy and non-energy markets. The company remains committed to leveraging its expertise to meet evolving industry needs while upholding its reputation for excellence in execution.
In addition to these achievements, Oceaneering recently secured a substantial contract from TotalEnergies EP Angola and its partners of Block 17. This contract entails executing transportation and installation work for the Girassol Life Extension (GIR FLEX) project in consortium with Ocean Installer, further expanding Oceaneering’s footprint in the offshore energy sector.