Oceaneering International, Inc. (NYSE: OII) has announced securing two significant contracts with Petroleo Brasileiro S.A. (“Petrobras”) through a competitive bidding process. The contracts, expected to generate aggregate net revenue between $120 million and $183 million, fall under Oceaneering’s Manufactured Products segment.
Under the terms of the agreements, Oceaneering will supply up to 362 kilometers (approximately 225 miles) of steel tube and thermoplastic electro-hydraulic umbilicals, along with associated subsea distribution hardware for offshore projects in Brazil. Manufacturing will take place at Oceaneering’s facility in Niteroi, Brazil, with final delivery scheduled for the fourth quarter of 2027.
Roderick A. Larson, President and Chief Executive Officer of Oceaneering, expressed confidence in the durability and commitment of their customers to the deepwater markets. He highlighted Oceaneering’s role as a trusted provider capable of delivering high-quality work safely and on schedule. Larson also emphasized the strategic advancement of Oceaneering’s Brazilian manufacturing operations and their commitment to supporting Petrobras in these projects.
The announcement includes forward-looking statements concerning anticipated revenue, work scope, production timelines, and market conditions. These statements are subject to risks, uncertainties, and assumptions outlined in Oceaneering’s filings with the Securities and Exchange Commission, which could cause actual outcomes to differ materially from expectations.
Oceaneering International, Inc. is a global technology company that provides engineered services, products, and robotic solutions to industries including offshore energy, defense, aerospace, manufacturing, and entertainment.
