Oceaneering International secures multiple vessel service contracts in Gulf of Mexico

Oceaneering International, Inc. has been awarded several significant contracts for vessel services by global energy companies operating in the Gulf of Mexico. The contracts, focusing on a comprehensive suite of inspection, maintenance, and repair (IMR) services, underscore Oceaneering’s expanding role and enhanced fleet utilization in the region.

The initial contract includes a 60-day work commitment starting in the second half of 2024, encompassing both basic and advanced IMR services. This includes vessel-based inspections, maintenance of smaller equipment, and the replacement of jumpers. It also covers more complex intervention services and installation tasks. The second contract extends to a 120-day period and primarily focuses on similar IMR services along with additional installation duties, with provisions for extending the work beyond the initial period.

In addition to these contracts, Oceaneering has secured two separate pricing agreements that involve installation, IMR, and intervention operations. These agreements incorporate innovative technologies from Oceaneering’s Offshore Projects Group (OPG), featuring integrated, customizable IMR services (IMRGE), such as photogrammetry and advanced subsea visual metrology.

Roderick A. Larson, President and CEO of Oceaneering, expressed his satisfaction with the new contracts, stating, “Our vessel bookings have increased year over year, affirming the growing demand for our services. These four contracts are foundational to improving our fleet utilization, particularly for our mid-size and larger vessels equipped with 165-ton and 250-ton cranes, respectively. They further reinforce Oceaneering’s status as a premier provider of vessel services in the Gulf of Mexico. We take pride in our position within the industry and look forward to continuing our partnership with these customers.”

These agreements not only enhance Oceaneering’s operational capacity but also demonstrate its commitment to leveraging advanced technologies to deliver superior service in the competitive Gulf of Mexico oil and gas sector. The company’s innovative approach, including the adoption of new technologies like IMRGE™, positions it at the forefront of the industry, capable of meeting the complex demands of modern offshore operations.

Oceaneering’s strategic acquisition of multiple contracts for vessel services in the Gulf of Mexico highlights its robust position in the offshore energy sector. By integrating advanced technologies and expanding its service offerings, Oceaneering not only secures its market share but also sets new standards in operational efficiency and safety. These contracts will likely play a crucial role in maintaining high service quality and customer satisfaction, crucial for long-term success in the industry.