Oceaneering wins offshore installation contract for Egypt gas field

Oceaneering International Inc. (NYSE: OII) received an integrated offshore installation contract for the West Delta Deep Marine gas field development project offshore Egypt from Burullus Gas Company. The Houston-based company expects the contract to generate meaningful revenue in 2026.

The scope includes transportation, offshore installation and commissioning of a refurbished subsea umbilical and a 2,000-meter replacement thermoplastic composite pipe flowline. Oceaneering will handle procurement and integration of the thermoplastic composite pipe and provide remotely operated vehicle and survey services for offshore operations.

Work to refurbish the umbilical was completed at Oceaneering's manufacturing facility in Rosyth, UK. The company stated that offshore operations are expected to commence on an accelerated schedule.

"This award highlights Oceaneering's ability to deliver integrated offshore installation solutions on an expedited timeline to restore production," said Chris Dyer, Senior Vice President of Oceaneering's Offshore Projects Group.

The contract represents part of the ongoing development of the West Delta Deep Marine gas field project. Oceaneering will provide what it describes as an end-to-end solution combining logistics management, refurbishment expertise, vessel operations and remotely operated vehicle services.

Oceaneering provides engineered services, products and robotic solutions to offshore energy, defense, aerospace and manufacturing industries globally.

You May Also Be Interested In

• TWO Announces Adjournment of Special Meeting
• Skeena Resources shareholders reelect board, name new VP
• Alpha Cognition names Dr. Robert Wills as board chairman