Oceaneering picks up multimillion-dollar deal for Gulf of Mexico energy project

Texas-headquartered subsea engineering and applied technology player Oceaneering International has been hired to provide an electro-hydraulic, steel tube dynamic umbilical for an energy project in the Gulf of Mexico.

Illustration; Source: Oceaneering

While disclosing a contract with anticipated revenue of around $50 million for its Manufactured Products segment, Oceaneering explained that the assignment was secured with a domestic independent energy company, but did not reveal its name.

Shaun R. Roedel, Senior Vice President of Manufactured Products, commented: “This contract award reflects the confidence that our customers have in Oceaneering’s ability to deliver manufactured products in a safe and timely manner.”

The latest award enables the U.S. firm to furnish an undisclosed project in the Gulf of Mexico with an electro-hydraulic, steel tube dynamic umbilical, totaling approximately 27 kilometers or 17 miles in length.

While final delivery is slated for the second quarter of 2026, Oceaneering anticipates the start-up of manufacturing in the Panama City, Florida facility, in 2025.

The U.S. firm has secured several new jobs over the past few months, as illustrated by two deals with Petrobras with an expected aggregate net revenue of $120 to $183 million.

A few months ago, Oceaneering wrapped up its first onshore piloting of a remotely operated vehicle (ROV) from an onshore remote operation center (OROC) in Brazil.