Oceaneering's Integrity Management and Digital Solutions Segment Announces Recent Contract Wins Exceeding $250 Million
January 06, 2021 at 07:00 am
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Oceaneering International, Inc. announced 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 company 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.
Oceaneering International, Inc. is a technology company, which delivers engineered services and products, and robotic solutions to the offshore energy, defense, aerospace, manufacturing and entertainment industries. The Company operates through four segments. Subsea Robotics segment consists of its remotely operated vehicles (ROVs), survey services and ROV tooling businesses. Manufactured Products segment provides distribution systems, such as production control umbilicals and connection systems made up of specialty subsea hardware, along with clamp connectors and subsea and topside control valves. Offshore Projects Group segment provides a portfolio of integrated subsea project capabilities and solutions. Integrity Management & Digital Solutions segment provides asset integrity management, corrosion management, inspection and nondestructive testing services, principally to customers in the oil and gas, power generation and petrochemical industries.