Oceaneering Secures Two New Contracts worth More Than $100 Million

Oceaneering International’s Offshore Projects Group (OPG) segment has secured two international contracts that have a combined total value of over $100 million.

Oceaneering has been named a consortium partner to support transportation and installation work on the Girassol Life Extension project in Angola, operated by TotalEnergies EP Angola, a subsidiary of France’s energy giant TotalEnergies.

The scope includes air and saturation diving services, project management, engineering, and procurement activities, in support of the prime contractor’s recovery and replacement of 12 risers.

The company will give Angolan personnel to the task and deal with the in-country activities of the consortium. The administrations are supposed to be given in different stages, starting in late 2023 and enduring into late 2025.

Moreover, Oceaneering has won an agreement for work on a jumper establishment project in the Stabroek block seaward Guyana. As per the organization, the venture adds to its developing group of work in the South American nation on the side of a key client.

The extension comprises of jumper and subsea field advancement establishment and other related undertakings. The extent of supply is now in progress and expected to happen through the rest of 2023.

“We are pleased to continue delivering quality offshore services to our expanding international client base. These awards substantiate our visibility into increased international activity, as cited in our recent second quarter earnings release. Our success with these projects supports our belief in the resurgence of international offshore activity and market expectations over the next several years,” said Roderick A. Larson, Oceaneering’s President and CEO.

Located 210 kilometers off the bank of Luanda in Block 17, the Girassol field was found in 1996. Covering an area of 14 by 10 kilometers, it was the first of the Block 17 fields to come on stream in December 2001.

Moreover, it was the first deepwater project led in Angola. The field was created utilizing a subsea office attached back to a drifting creation, stockpiling, and offloading unit (FPSO).

TechnipFMC was as of late granted an extravagant agreement for the establishment of adaptable line and related subsea structures at the existence expansion project.

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