More than $100 million in two new contracts for Oceaneering

Oceaneering International’s Offshore Projects Group (OPG) segment has secured two international contracts that have a combined total value of over $100 million.

Oceaneering has been named a consortium partner to support transportation and installation work on the Girassol Life Extension project in Angola, operated by TotalEnergies EP Angola, a subsidiary of France’s energy giant TotalEnergies.

The scope includes air and saturation diving services, project management, engineering, and procurement activities, in support of the prime contractor’s recovery and replacement of 12 risers.

The company will provide Angolan personnel for the project and manage the in-country operations of the consortium. The services are expected to be provided in various phases, commencing in late 2023 and lasting into late 2025.

Furthermore, Oceaneering has won a contract for work on a jumper installation project in the Stabroek block offshore Guyana. According to the company, the project adds to its growing body of work in the South American country in support of a key client.

The scope consists of jumper and subsea field development installation and other associated tasks. The scope of supply is already underway and expected to take place through the remainder of 2023.

“We are pleased to continue delivering quality offshore services to our expanding international client base. These awards substantiate our visibility into increased international activity, as cited in our recent second quarter earnings release. Our success with these projects supports our belief in the resurgence of international offshore activity and market expectations over the next several years,” said Roderick A. Larson, Oceaneering’s President and CEO.

Located 210 kilometers off the coast of Luanda in Block 17, the Girassol field was discovered in 1996. Covering an area of 14 by 10 kilometers, it was the first of the Block 17 fields to come on stream in December 2001. In addition, it was the first deepwater project conducted in Angola. The field was developed using a subsea facility tied back to a floating production, storage, and offloading unit (FPSO).

TechnipFMC was recently awarded a multi-million dollar contract for the installation of flexible pipe and associated subsea structures at the life extension project.