Oceaneering bags over $250M in contracts

Houston-based Oceaneering said it has won multiple contracts for its Integrity Management and Digital Solutions (IMDS) segment, since the beginning of Q4 2020.

Oceaneering logo
Courtesy: Oceaneering

The contracts range in duration from three to five years, with a cumulative value exceeding $250 million.

These awards, from major operators for several international projects, exploit synergies, enabled by design of the recent organizational realignment, within the IMDS businesses to deliver a cohesive, value-based solution, Oceaneering said.

Approximately 55 per cent of these contracts represent renewals of existing agreements, and 45 per cent represent incremental business.

The scopes of work for these contracts include software, data services, monitoring and diagnostic services, integrity management, remote integrity engineering, and remote and onsite inspection services for both brownfield and greenfield projects onshore and offshore.

Specifically, the sites covered by these contracts include vessels, LNG plants, LNG storage facilities, terminals, and production facilities in Qatar, Angola, Azerbaijan, the United States, and Australia.

Rod Larson, president and chief executive officer, stated: “The trust of these contracted operators recognizes the value of the efficient and cost-effective way of operating that Oceaneering offers our customers.”

Larson also expressed Oceaneering’s encouragement by this early, enthusiastic response to the company’s realigned IMDS segment, proactively managed by senior vice president Kishore Sundararajan, which has combined their asset integrity and data analytics businesses into one streamlined segment.