Oceaneering Inks 10-Year ROV Service Contract in Canada

Oceaneering International, Inc. (“Oceaneering”) (NYSE:OII) announces that one of its subsidiaries, Oceaneering Canada Limited, has entered into an agreement, expected to extend into 2026, with a major international oil and gas company (the “customer”), to provide remotely operated vehicle (“ROV”) services and equipment for projects located offshore of Newfoundland and Labrador, Canada.

In addition, Oceaneering will supply tooling and project support, including project management and associated engineering services.

Under the terms of the contract, Oceaneering is to provide two ROV systems onboard a Multi-Function Platform Support Vessel supporting the customer’s operations. The scope of work contemplates subsea construction, inspection, maintenance and repair services on existing and future infrastructure.

Roderick A. Larson, President and Chief Executive Officer of Oceaneering, stated, “This latest ROV services contract furthers our long-standing working relationship with this very important customer, and expands our operations in Atlantic Canada. An important factor in this success is our strong customer-oriented approach focused on meeting customer’s project needs through safe, cost effective solutions using innovative equipment and highly trained personnel.”