Oceaneering Wins $180M In Subsea Robotics Contracts From Petrobras For Offshore Brazil Projects

Oceaneering International, Inc. ("Oceaneering") (NYSE:OII) announced that its Brazilian subsidiary, Marine Production Systems do Brasil LTDA ("MPS"), was awarded multiple Subsea Robotics contracts by Petróleo Brasileiro S.A. ("Petrobras") during the second quarter of 2025, following a competitive tender. The anticipated aggregate revenue of the contracts is approximately $180 million.

Oceaneering will provide work class remotely operated vehicle ("ROV") services, specialized tooling packages, and survey services onboard multiple anchor handling and ROV support vessels working on Petrobras projects offshore Brazil. The scopes of work include ROV support of inspection, maintenance, and repair and decommissioning activities, as well as services related to surface and subsea positioning, FPSO hook-ups, mooring inspections, and pile installations. Each contract has a duration of four years with options to extend. The contracts are expected to commence on various dates in the third and fourth quarters of 2025 and the first quarter of 2026.

Martin McDonald, Senior Vice President of Subsea Robotics, stated, "As a global leader in ROV services, we are excited to further expand our presence in Brazil. These contracts provide visibility into our backlog over the next several years, reinforcing our outlook for resilient offshore energy markets. This visibility also allows us to strategically plan and allocate resources, ensuring safe, consistent, and reliable performance. We are proud to continue our support of Petrobras' offshore projects and contributions to the development of Brazil's energy sector."