Oceaneering International Inc. said Jan. 6 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.
“The trust of these contracted operators recognizes the value of the efficient and cost-effective way of operating that Oceaneering offers our customers,” Rod Larson, president and CEO, said. “We are encouraged by this early, enthusiastic response to our realigned IMDS segment, proactively managed by Senior Vice President Kishore Sundararajan, which has combined our asset integrity and data analytics businesses into one streamlined segment."
Oceaneering is a global provider of engineered services and products, primarily to the offshore energy industry. Through the use of its applied technology expertise, Oceaneering also serves the defense, aerospace, and entertainment industries.
Recommended Reading
Comstock Continues Wildcatting, Drops Two Legacy Haynesville Rigs
2024-02-15 - The operator is dropping two of five rigs in its legacy East Texas and northwestern Louisiana play and continuing two north of Houston.
E&P Highlights: March 15, 2024
2024-03-15 - Here’s a roundup of the latest E&P headlines, including a new discovery and offshore contract awards.
Sinopec Brings West Sichuan Gas Field Onstream
2024-03-14 - The 100 Bcm sour gas onshore field, West Sichuan Gas Field, is expected to produce 2 Bcm per year.
Trio Petroleum to Increase Monterey County Oil Production
2024-04-15 - Trio Petroleum’s HH-1 well in McCool Ranch and the HV-3A well in the Presidents Field collectively produce about 75 bbl/d.
US Drillers Add Oil, Gas Rigs for Third Time in Four Weeks
2024-02-09 - Despite this week's rig increase, Baker Hughes said the total count was still down 138 rigs, or 18%, below this time last year.