Oceaneering's Manufactured Products Segment Books Contracts of Approximately $200 Million
05 Fevereiro 2024 - 10:00AM
Business Wire
Oceaneering International, Inc. (NYSE:OII) announced that its
Manufactured Products segment won multiple contracts during the
fourth quarter of 2023, with anticipated aggregate revenue of
approximately $200 million. The anticipated revenues from these
contracts, primarily with international oil and gas operators and
marine construction companies, range in value from less than $10
million to greater than $100 million.
There are two contracts that constitute a considerable portion
of the forecasted value. One is for a large, high-quality,
greenfield development located in the Gulf of Mexico. The scope of
work under this contract is to supply electro-hydraulic, steel tube
umbilicals totaling approximately 34 kilometers (21 miles) in
length and supporting subsea distribution hardware. Production is
scheduled for the Panama City, Florida and Houston, Texas
facilities, with final delivery anticipated in third quarter
2026.
The second contract is related to the next phase of a staged
development in the Black Sea. The Oceaneering scope of work under
this contract is to supply electro-hydraulic, steel tube dynamic
and static umbilicals totaling approximately 45 kilometers (28
miles) in length and supporting subsea distribution hardware.
Production is scheduled for the Rosyth, Scotland facility, to
commence in 2024 with final delivery anticipated in third quarter
2025.
Other contracts booked in the fourth quarter 2023 order intake
include scopes of work to supply additional subsea production
umbilicals and umbilical termination hardware for projects not
mentioned above, Grayloc and Rotator products, and mobility
solutions products.
Rod Larson, President and Chief Executive Officer, stated,
"These contract awards validate the continued necessity for
stability in global offshore energy production, and demonstrate
customer confidence in our ability to support their operations to
meet energy demand. The awards leverage our years of expertise and
strengthen our position as a leading provider of high-quality
integrated products and services to both energy and non-energy
markets. We look forward to delivering our customers’ unique work
scopes in a safe and timely manner.”
Statements in this press release that express a belief,
expectation or intention, as well as those that are not historical
fact, are forward-looking. The forward-looking statements in this
press release include the statements concerning Oceaneering's:
anticipated aggregate revenue and range of revenues from
Manufactured Products contracts; work scope, production location,
and delivery of contracted products; and expected start and
completion dates. These forward-looking statements are made
pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995 and are based on current information
and expectations of Oceaneering that involve a number of risks,
uncertainties, and assumptions, including risks and uncertainties
related to counterparty performance under contracts and market
conditions and other economic factors affecting Oceaneering's
business. Should one or more of these risks or uncertainties
materialize, or should the assumptions underlying the
forward-looking statements prove incorrect, actual outcomes could
vary materially from those indicated. These and other risks are
more fully described in Oceaneering's latest annual report on Form
10-K and its other periodic filings with the Securities and
Exchange Commission.
Oceaneering is a global technology company delivering engineered
services and products and robotic solutions to the offshore energy,
defense, aerospace, manufacturing, and entertainment
industries.
For more information on Oceaneering, please visit
www.oceaneering.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20240205183704/en/
investorrelations@oceaneering.com
Hilary Frisbie Senior Director, Investor Relations
713-329-4755
Mark Peterson Vice President, Corporate Development and Investor
Relations 713-329-4507
Oceaneering (NYSE:OII)
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