Oceaneering International awarded $250m in contracts
The extent of the work tied to the contracts worth $250 million includes software development services, data services, monitoring and diagnostics, further integrity management, integrity engineering, and inspection services.
By Michael McGrady, Maritime Direct Americas Correspondent
The publicly-traded Oceaneering International Inc announced that the company has won multiple contracts values more than $250 million, as it relates to business prospects in its integrity management and digital solutions (IMDS) segment.
According to the company, these contracts totalled the aforementioned $250 million through cumulative values won during the fourth quarter of 2020. All of these contracts range from three to five years. 55 per cent of these contracts are renewals of existing contracts, and 45 per cent are representative of incremental business.
In a press release to investors, Oceaneering noted that the extent of the work tied to these contracts includes software development services, data services, monitoring and diagnostics, further integrity management, integrity engineering, and remote and onsite inspection services for onshore and offshore brownfield and greenfield projects.
Vessels, liquefied natural gas (LNG) plants, LNG storage facilities, terminals and other production facilities throughout Qatar, Angola, Azerbaijan, the U.S., and Australia, were said to be covered by the contracts.
“The trust of these contracted operators recognizes the value of the efficient and cost-effective way of operating that Oceaneering offers our customers,” said Rod Larson, the president and chief executive of Oceaneering International, in the same press release to investors.
“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,” he added.
