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Oceaneering International inks 3 subsea service contracts worth $80M

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Oceaneering International inks 3 subsea service contracts worth $80M

Energy services provider Oceaneering International Inc. disclosed Jan. 18 it was awarded three subsea umbilical contracts worth more than $80 million.

The contracts, which were signed with unspecified major international operators, will supply developments in the Mediterranean Sea, North Sea and the South China Sea.

The Houston-based firm will start production of the umbilicals in the first quarter and has slated delivery during the first half of 2020. Around 70% of the award value will be reflected in the Dec. 31, 2018, backlog.