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Oceaneering International Inc. (OII) is a global leader in providing engineered services and products primarily to the offshore energy, defense, aerospace, manufacturing, and entertainment industries. The company excels in delivering innovative solutions that push the frontiers of deep water, space, and motion entertainment environments. As the world’s largest ROV (Remotely Operated Vehicle) operator, Oceaneering operates over 300 systems globally, solidifying its position as the leading ROV provider to the oil and gas industry.
Oceaneering's extensive portfolio, combined with its vast experience, makes it a trusted subsea connection specialist. The company is dedicated to solving complex subsea challenges by integrating products, services, and innovative solutions that enhance operational reliability, safety, and cost efficiency. Its recent 2020 segment realignment aimed at promoting synergies and cost-efficiency has resulted in five key segments:
- Subsea Robotics: Specializes in the deployment and maintenance of ROVs and other robotic solutions.
- Manufactured Products: Focuses on creating specialized products for the offshore oil and gas market.
- Offshore Projects Group: Provides comprehensive project management and execution services.
- Integrity Management and Digital Solutions: Offers solutions for managing the integrity and performance of operational systems.
- Aerospace and Defense Technologies: Develops and supplies advanced technologies for the aerospace and defense sectors.
The firm is also expanding its footprint in the offshore renewables and mobility solutions industries, showcasing its adaptability and commitment to technological advancements. By maintaining a safety-focused and innovative approach, Oceaneering ensures that it can quickly and effectively respond to any subsea challenges, providing swift and efficient solutions.
Oceaneering's financial health is supported by a robust portfolio and strategic partnerships, enabling the company to de-risk operational systems and lower the total cost of ownership for its clients. As a result, Oceaneering continues to play a significant role in the global market, driving the future of subsea technologies and services.
Oceaneering International (NYSE:OII) has secured a $50 million contract with a domestic energy company for an electro-hydraulic, steel tube dynamic umbilical system. The project, located in the Gulf of Mexico, will involve manufacturing a 27-kilometer umbilical at Oceaneering's Panama City, Florida facility. Production is set to begin in 2025, with a final delivery in the second quarter of 2026. Senior VP Shaun R. Roedel highlighted customer confidence in Oceaneering's timely and safe delivery of manufactured products.
Oceaneering International announced that its President and CEO, Roderick A. Larson, will present at the J.P. Morgan Energy, Power & Renewables Conference in New York on June 18, 2024. Larson, along with CFO Alan R. Curtis, will also engage with institutional investors. The company's Q1 2024 Investor Presentation is available on their website. Oceaneering is known for providing advanced engineered services and robotic solutions in various sectors, including offshore energy, defense, aerospace, manufacturing, and entertainment.
Oceaneering International, a leading subsea engineering and applied technology company, has secured two major contracts with Petrobras. These contracts, obtained through competitive bidding, are expected to generate between $120 million and $183 million in revenue. Oceaneering will supply 362 kilometers of steel tube and thermoplastic electro-hydraulic umbilicals, along with associated subsea distribution hardware, for Petrobras' offshore projects in Brazil. The manufacturing will occur at Oceaneering's facility in Niteroi, Brazil, with deliveries expected by Q4 2027. This accomplishment highlights Oceaneering's strong market position and commitment to quality and timely delivery.
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