Oceaneering secures $300 million in subsea robotics contracts

Oceaneering’s Subsea Robotics segment has won multiple contracts in the third quarter of 2022 with anticipated aggregate revenue of $300 million.

The contracts are primarily for remotely operated vehicle (ROV) services delivered from floating drilling rigs and vessels for subsea equipment support, subsea intervention and construction.

Included work scopes are also ROV tooling, survey, positioning and autonomous underwater vehicle (AUV) services.

According to Oceaneering, these service contracts are with international energy operators and marine construction companies and cover globally diverse regions and reflect significant contract wins in South America, the North Sea and West Africa.

The duration ranges from several months to five years. Some contracts contain option periods that, if exercised, would increase both the duration and overall value.

“This volume of orders reinforces our outlook for strong offshore demand over the next several years. Offshore’s resurgence indicates the global significance and operators’ awareness of energy security issues and the need for dependable forms of energy during the lengthy energy-transition process,” said Rod Larson, Oceaneering president and CEO.

Last month, Oceaneering formed a collaboration agreement with German firm InnetiQs to explore and develop advanced inspection solutions for the offshore and onshore energy markets.

The agreement is said to combine IQ’s inspection technologies for subsea pipelines, risers, and structural assets with Oceaneering’s global operations and ability to provide inspection and cleaning methods that lessen exposure risks to personnel.

The company also recently announced that its hybrid AUV/ROV system Freedom had achieved Technology Readiness Level 6 on a 1-9 scale, following an extensive testing and qualification program.

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