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
ConocoPhillips: Permian Basin a ‘Growth Engine’ for Lower 48
2024-05-15 - ConocoPhillips views the Permian Basin as a “growth engine” within its Lower 48 portfolio, the company’s Midland Basin Vice President Nick McKenna said during Hart Energy’s SUPER DUG event in Fort Worth.
Petrobras Not in a Race with Guyana to Boost Production, CEO Says
2024-05-14 - While Brazil and Guyana aren’t necessarily competing to see which country can produce more oil, Petrobras’ CEO Jean Paul Prates jokingly said Brazil was winning, while adding that Bolivia’s falling production was an opportunity for Argentina.
E&P Highlights: May 13, 2024
2024-05-13 - Here’s a roundup of the latest E&P headlines, with a couple fields coming online, as well as new contract awards.
New Permian Math: Vital Energy and 42 Horseshoe Wells
2024-05-10 - Vital Energy anticipates making 42 double-long, horseshoe-shaped wells where straight lines would have made 84 wells. The estimated savings: $140 million.
SM Energy Targets Prolific Dean in New Northern Midland Play
2024-05-09 - KeyBanc Capital Markets reports SM Energy’s wells “measure up well to anything being drilled in the Midland Basin by anybody today.”