Oceaneering secures contracts worth $250m for IDMS segment

7 January 2021 (Last Updated January 7th, 2021 14:35)

Subsea services provider Oceaneering International has secured multiple contracts for its Integrity Management and Digital Solutions (IMDS) segment since Q4 2020.

Oceaneering secures contracts worth $250m for IDMS segment
The company received the contracts from major operators for several international projects within the IMDS businesses. Credit: gloriaurban4 from Pixabay.

Subsea services provider Oceaneering International has secured multiple contracts for its Integrity Management and Digital Solutions (IMDS) segment since Q4 2020.

Valid for a period of three to five years, the cumulative value of the contracts is more than $250m.

The company received the contracts from major operators for several international projects within the IMDS businesses.

Nearly 55% of these contracts represent renewals of existing agreements. The remaining 45% represent ‘incremental business’, the company said.

Work scopes of these contracts include software, data services, monitoring and diagnostic services.

Also included are integrity management, remote integrity engineering, as well as remote and on-site inspection services for brownfield and greenfield projects both onshore and offshore.

Sites covered under these contracts include vessels, liquefied natural gas (LNG) plants, LNG storage facilities, terminals, and production facilities.

These sites are located in Qatar, Angola, Azerbaijan, the US, and Australia.

Oceaneering International president and CEO Rod Larson said: “The trust of these contracted operators recognises the value of the efficient and cost-effective way of operating that Oceaneering offers our customers.

“We are encouraged by this early, enthusiastic response to our realigned IMDS segment, proactively managed by senior vice-president Kishore Sundararajan, which has combined our asset integrity and data analytics businesses into one streamlined segment.”

Oceaneering is a provider of engineered solutions to the offshore energy industry.

Last month, Oceaneering secured the contract to supply the first-ever 20,000psi-rated subsea hydraulic junction plates and associated hardware for Chevron’s Anchor field development in the Gulf of Mexico.