Oceaneering awarded multiple contracts worth $250m

Oceaneering International, Inc. (NYSE:OII) announces that, since the beginning of the fourth quarter 2020, it has won multiple significant contracts for its Integrity Management and Digital Solutions (IMDS) segment. 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 for our customers. Approximately 55% of these contracts represent renewals of existing agreements, and 45% 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.

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.

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