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.
Recommended Reading
Kimmeridge’s Mark Viviano on Reshaping the Energy Sector, SilverBow-Crescent Deal
2024-05-16 - Kimmeridge Energy Engagement Partners’ Mark Viviano says the company is evaluating the Crescent Energy and SilverBow Acquisition and how Kimmeridge played a key role in transforming the shale sector in this Hart Energy Exclusive interview.
How Diversified Already Surpassed its 2030 Emissions Goals
2024-04-12 - Through Diversified Energy’s “aggressive” voluntary leak detection and repair program, the company has already hit its 2030 emission goal and is en route to 2040 targets, the company says.
BKV CEO Chris Kalnin says ‘Forgotten’ Barnett Ripe for Refracs
2024-04-02 - The Barnett Shale is “ripe for fracs” and offers opportunities to boost natural gas production to historic levels, BKV Corp. CEO and Founder Chris Kalnin said at the DUG GAS+ Conference and Expo.
Adkins: Attacks on Fossil Fuels, Overregulation Poised to Backfire
2024-05-17 - Raymond James’ J. Marshall Adkins tells Hart Energy’s Super DUG conference attendees demonizing oil and gas, strenuous regulations and continued inflation are bound to have unexpected consequences for E&P opponents.
SUPER DUG Shale 4.0 Era about Building Scale- Rystad
2024-05-16 - The Shale 3.0 era or capital discipline era will be followed by the Shale 4.0 era, which will see companies focused on building scale, according to Rystad Energy Senior Shale Analyst Matthew Bernstein.