Oceaneering International has announced that two of its subsidiaries, Oceaneering Angola and Oceaneering Marine Technologies, have secured a significant contract from ExxonMobil affiliate Esso Exploration Angola.
The deal followed a competitive bidding process and aims to support offshore operations in Angola Block 15.
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This three-year contract, which began this month, is projected to bring in revenue between $80m and $90m.
The scope of the deal encompasses the provision of multiple work-class remotely operated vehicles (ROVs), intervention workover control systems (IWOCS), ROV tooling, and satellite communication systems.
It also includes hydrate remediation, subsea inspection, and engineering services.
Oceaneering subsea robotics senior vice-president Martin McDonald said: “Securing this contract renewal with Esso, a key customer, through a competitive process reinforces our position as a trusted partner in Angola’s offshore energy sector.
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By GlobalData“This award not only reflects our capabilities in the country for subsea robotics and intervention services but also supports our continued growth in a strategically important region.”
Oceaneering is known for delivering engineered services and products, along with robotic solutions, to various industries including offshore energy, aerospace, defence, and manufacturing.
For the first quarter of 2025, Oceaneering International reported a 13% year-over-year increase in revenue, amounting to $675m.
The company also reported a 57% increase in adjusted EBITDA, reaching $96.7m, despite not adjusting for a $10.4m inventory reserve taken in the Manufactured Products segment.
In a move to expand its service capabilities, Oceaneering International’s Offshore Projects Group (OPG) signed a vessel services agreement with a major operator in June.
The agreement involves the multipurpose support vessel Harvey Deep Sea, which is set to be utilised for subsea services in the Gulf of Mexico.
