Oceaneering Wins ROV Deal

Published at 03:19PM - 13/07/16

Oceaneering International announced it has entered into a master service agreement (MSA) with Heerema Marine Contractors (HMC) for the provision of remotely operated vehicle (ROV) systems and associated subsea tooling equipment.

Under the agreement, Oceaneering will provide up to ten ROV systems with associated subsea tooling, engineering and technicians.

“We are very pleased to have been selected by HMC against a backdrop of what is a very challenging market environment,” Oceaneering Chief Executive Officer, Kevin McEvoy, said.

Oceaneering Wins ROV Deal

“This is a position we have achieved through our customer focus and commitment to growing market share while safely providing state-of-the-art equipment, highly trained personnel and complementary engineering services and products,” the CEO added.

The company announced on Tuesday that the contract will last through December 2020.

Heerema Thialf Heavy Lift Crane Barge
Heerema Thialf Heavy Lift Crane Barge

Additionally, Oceaneering will support the global operations of HMC, including the installation of fixed and floating platforms, platform decommissioning, subsea infrastructure and pipeline installations.

Under the contract signed between the two firms, the ROV systems will be installed on board HMC’s deep water construction vessels Aegir, Thialf and Balder.

Deep Water To Remain Key in O&G Growth

As well as this, the systems will be installed on the semi-submersible crane vessels Hermod and Sleipnir, a newly built vessel, and other additional support vessels.

HMC owns three of the world’s largest crane vessels and one deep-water construction vessel.

The company is currently developing a new vessel, the new-generation semi-submersible crane vessel Sleipnir, scheduled for delivery in 2018.

Oceaneering, in its turn, is a global provider of engineered services and products to the offshore oil and gas industry, focused on deep water applications.

The company suffered with the slump in oil prices throughout 2015, which led to a slowdown in deep water activity.

This is expected to continue this year and has so far led to spending cuts and more pressure over pricing.

Oceaneering expects a lower demand, but believes it is well positioned in the market, as deep water exploration continues to play a major role in the market.