HOUSTON, April 27, 2021 /PRNewswire/ -- Oceaneering
International, Inc. (NYSE:OII) announced that its
Manufactured Products segment has won multiple contracts
during the first four months of 2021, with anticipated
aggregate revenue in excess of $135 million. The
anticipated revenue from these contracts with international oil and
gas operators and marine construction companies ranges in value
from less than $10 million to greater
than $90 million.
Each contract scope of work involves the manufacture of subsea
production umbilicals and umbilical termination hardware at one of
Oceaneering's facilities, located in Panama City, Florida, Niteroi, Brazil, and Rosyth, Scotland. Manufacturing of the
umbilicals is expected to commence promptly, with production
schedules ranging in duration from several months to five
years.
Rod Larson, President and Chief
Executive Officer, stated, "These recent contract awards
strengthen our position as a market leader in the provision of
global manufactured products for the offshore oil and gas industry,
and demonstrate continuing customer confidence in our ability to
safely and timely deliver high-quality integrated products and
services. We're encouraged by this uptick in order intake and
look forward to executing these new work scopes."
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 revenue from Manufactured Products contracts; provision
of contracted equipment and work scope; 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 provider of engineered services and
products, primarily to the offshore energy industry, with a focus
on deepwater applications. Through the use of its applied
technology expertise, Oceaneering also serves the defense,
aerospace, and entertainment industries.
For more information on Oceaneering, please visit
www.oceaneering.com.
Contact:
Mark Peterson
Vice President, Corporate Development and Investor Relations
Oceaneering International, Inc.
713-329-4507
investorrelations@oceaneering.com
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SOURCE Oceaneering International, Inc.