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Stock impact report

Oceaneering Announces Manufactured Products Contracts with Petrobras

Oceaneering International, Inc. (OII) 
Last oceaneering international, inc. earnings: 2/24 05:01 pm Check Earnings Report
Company Research Source: Business Wire
HOUSTON--(BUSINESS WIRE)--Oceaneering International, Inc. (NYSE:OII) announced that its Manufactured Products segment has secured two significant contracts with Petroleo Brasileiro S.A. (“Petrobras”) through a competitive bidding process. The expected aggregate net revenue is in the range of $120 million to $183 million.Oceaneering is contracted to supply up to 362 kilometers, or approximately 225 miles, of steel tube and thermoplastic electro-hydraulic umbilicals and associated subsea distribution hardware for use in projects offshore Brazil. Manufacturing of the products is scheduled to take place at Oceaneering’s Niteroi, Brazil facility with the final delivery expected in the fourth quarter of 2027.Reflecting on these achievements, Roderick A. Larson, President and Chief Executive Officer of Oceaneering, stated, "The award of these major contracts reinforces our confidence in the durability and commitment of our customers to the resurgent deepwater markets. It further demonstr Show less Read more
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