Two of the contracts—one in the Gulf of Mexico and one in the Black Sea—constitute the majority of the forecasted $200 million in value. (Source: Shutterstock)
Oceaneering International’s manufactured products segment won $200 million in contracts during the fourth quarter of 2023, the company announced Feb. 5.
Two of the contracts constitute the majority of the forecasted value. One is to provide 21 miles of electro-hydraulic, steel tube umbilicals for a large, high-quality, greenfield development in the Gulf of Mexico. Final delivery on that project is expected in third quarter 2026.
The second contract is related to the next phase of a staged development in the Black Sea. Oceaneering is to supply 28 miles of electro-hydraulic, steel tube dynamic and static umbilicals and supporting subsea distribution hardware. Production will begin in Oceaneering’s Rosyth, Scotland facility in 2024, with final delivery in third quarter 2025.
Other contracts booked in fourth quarter 2023 include scopes of work to supply additional subsea umbilicals and umbilical termination hardware, Grayloc and Rotator products and mobility solutions products for projects not mentioned above.
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