Last $58.97 USD
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Company Description

Contact Info

11911 FM 529

Houston, TX 77041

United States

Phone: 713-329-4500

Fax: 713-329-4951

Oceaneering International, Inc., together with its subsidiaries, provides engineered services and products primarily to the offshore oil and gas industry with a focus on deepwater applications worldwide. The company also serves the defense, entertainment, and aerospace industries. Segments The company’s business segments are contained within two businesses – services and products provided to the oil and gas industry (Oilfield) and all other services and products (Advanced Technologies). The company’s four business segments within the Oilfield business include Remotely Operated Vehicles (ROVs), Subsea Products, Subsea Projects and Asset Integrity. The company reports its Advanced Technologies business as one segment. Oilfield The primary focus of its Oilfield business has been towards increasing its asset base and capabilities for providing services and products for deepwater offshore operations and subsea completions. ROVs The company provides ROVs, which are submersible vehicles operated from the surface, to customers in the oil and gas industry for drilling support and vessel-based services, including subsea hardware installation, construction, pipeline inspection, survey and facilities inspection, maintenance and repair. The company designs and builds its new ROVs at in-house facilities. The company has grown its ROV fleet size to 304 in 2013. Subsea Products The company provides various tooling and specialty subsea hardware. In 2005, the company acquired Grayloc Products, L.L.C. and its subsidiary (together Grayloc), an oil and gas industry supplier of high performance clamp connectors used in production manifold, flowline and valve installations, and in 2010 the company acquired all the operating assets of SMX International Canada Inc., a Canadian manufacturer of clamp connectors, check valves, and universal ball joints to augment Grayloc's business. In 2008, the company purchased GTO Subsea AS, a Norwegian rental provider of specialized subsea dredging equipment, including ROV-deployed units, to the offshore oil and gas industry. In 2011, the company purchased two Norwegian companies: Norse Cutting and Abandonment AS, an oilfield technology company specializing in providing subsea tooling services and plugging, abandonment and decommissioning of offshore oil and gas production platforms and subsea wellheads; and Mechanica AS, a design and fabrication company specializing in subsea tools for the offshore oil and gas industry. The company provides provide various types of subsea umbilicals through its Umbilical Solutions division. Offshore operators use umbilicals to control subsea wellhead hydrocarbon flow rates, monitor downhole and wellhead conditions and perform chemical injection. Subsea umbilicals are also used to provide power and fluids to other subsea processing hardware, including pumps and gas separation equipment. Subsea Projects The Subsea Projects segment consists of its subsea installation, inspection, maintenance and repair services, principally in the U.S. Gulf of Mexico and offshore Africa, utilizing a fleet of two owned and five long-term chartered dynamically positioned deepwater vessels with integrated high-specification work-class ROVs onboard, and four owned shallow water diving vessels, spot-chartered vessels and other assets. The vessels are equipped with thrusters that allow them to maintain a constant position at a location without the use of anchors. They are used in the inspection, maintenance and repair of subsea facilities, pipeline or flowline tie-ins, pipeline crossings and installations. These vessels can carry and install coiled tubing or umbilicals required to bring subsea well completions into production (tie-back to production facilities). Under the field support contract, the company supplies project management, engineering, and the two chartered vessels, each equipped with two Oceaneering high-specification work-class ROVs. It provides ROV tooling, asset integrity services and installation and workover control system services. The company also provides other chartered vessels and barges on an as-requested basis from its customer. In March

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TEV/Sales 1.6x
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