Oceaneering expands collaboration with Petrobras with two ‘significant’ contracts

U.S. technology company Oceaneering has expanded its cooperation with Brazilian oil and gas giant Petrobras by securing two contracts that will have an expected aggregate net revenue in the range of $120 million to $183 million.

Oceaneering’s Manufactured Products segment won two contracts with Petrobras, defined as significant, for the supply of up to 362 kilometers of steel tube and thermoplastic electro-hydraulic umbilicals and associated subsea distribution hardware for use in projects offshore Brazil.

Manufacturing is scheduled to take place at the company’s facility in Niteroi, Brazil, with the final delivery expected in the fourth quarter of 2027.

“The award of these major contracts reinforces our confidence in the durability and commitment of our customers to the resurgent deepwater markets,” said Roderick A. Larson, President and Chief Executive Officer of Oceaneering.

“It further demonstrates Oceaneering’s position as a trusted provider with the ability to deliver quality work in a safe and timely manner. This advances the leading-edge position of our Brazilian manufacturing operation and we look forward to supporting Petrobras on these projects.”

The two companies signed a five-year contract for the operation of drill pipe riser (DPR) systems in Brazil in October last year, under which Oceaneering’s wholly-owned subsidiary Marine Production Systems do Brasil is operating three existing DPR systems to support intervention and completion operations.

In March 2024, the U.S. company announced the completion of its first onshore piloting of a remotely operated vehicle (ROV) from an onshore remote operation center (OROC) in Brazil, carried out in partnership with Petrobras.