Oceaneering Secures New Vessel Services Agreement
Oceaneering International, Inc. (“Oceaneering”) (NYSE: OII), a global leader in engineered services and products for the offshore energy industry, announced that its Offshore Projects Group (OPG) has entered into a comprehensive vessel services agreement with a major oil and gas operator. The agreement involves the utilization of the MPSV Harvey Deep Sea, a highly capable multi-purpose support vessel (MPSV) that is expected to play a central role in subsea inspection, maintenance, repair (IMR), and installation operations across the Gulf of Mexico.
The Harvey Deep Sea—currently under charter by Oceaneering through February 2027—will serve as a platform to support the operator’s ongoing and future subsea campaigns. Outfitted with two of Oceaneering’s cutting-edge Millennium™ work-class remotely operated vehicles (ROVs), the vessel is ideally suited to deliver a wide range of subsea services that are critical to the integrity and productivity of offshore infrastructure.
Enhancing Project Execution and Client Value
The agreement marks a significant milestone for Oceaneering’s Offshore Projects Group, further solidifying its position as a trusted partner for subsea operations in one of the world’s most active offshore basins. By securing long-term vessel backlog, Oceaneering enhances operational planning while minimizing idle time and deployment uncertainty. The arrangement also allows the company to optimize the deployment of its technology assets, including ROV spreads and subsea tooling packages, ensuring the efficient and timely delivery of client services.
Chris Dyer, Senior Vice President of Oceaneering’s Offshore Projects Group, emphasized the strategic importance of the award, stating:
“This award not only secures vessel backlog in the region but also allows us to optimize our equipment spreads and reduce scheduling uncertainty. We look forward to delivering critical subsea IMR and installation services to create value for our customer and further demonstrate our commitment to project execution that delivers safe, efficient, and high-quality results.”
The Gulf of Mexico remains a key area of strategic focus for Oceaneering, with a robust pipeline of offshore development, production, and maintenance activities. The vessel services agreement builds upon Oceaneering’s longstanding presence in the region and aligns with its broader mission to enable safe and reliable offshore operations through technical innovation and executional excellence.
The Harvey Deep Sea: A High-Capability MPSV
The Harvey Deep Sea is a dynamically positioned, Jones Act-compliant MPSV that boasts a range of advanced capabilities tailored for complex offshore operations. Purpose-built for deepwater service, the vessel is equipped with a 165-ton active heave compensated (AHC) crane, a large back deck for equipment mobilization, and accommodations for up to 75 personnel, making it ideal for extended campaigns in remote offshore environments.
The vessel’s integrated work-class ROV systems—designed and operated by Oceaneering—enhance its flexibility and responsiveness to mission-critical tasks. These ROVs are capable of performing a diverse array of subsea operations including pipeline and flowline inspections, structural repairs, metrology, and construction support.
In addition to its subsea intervention capabilities, the Harvey Deep Sea is also well-suited for deployment in installation campaigns involving umbilicals, risers, jumpers, and various subsea production system components. Its onboard power and control systems allow for the integration of advanced subsea tooling, sensors, and communications packages, supporting high-resolution data acquisition and real-time decision-making.
Strengthening Long-Term Customer Partnerships
The newly announced agreement underscores the strength of Oceaneering’s customer relationships and its ability to tailor solutions that address the evolving needs of offshore operators. By combining versatile assets like the Harvey Deep Sea with its proven project management, engineering, and operational expertise, Oceaneering is well positioned to support critical subsea infrastructure throughout its lifecycle.
The deal reflects an increasing trend in the offshore energy sector toward long-term, integrated service agreements that deliver greater efficiency, predictability, and value. Rather than engaging in piecemeal contracting for discrete scopes of work, operators are increasingly partnering with providers like Oceaneering that offer holistic service models encompassing asset deployment, technology integration, and execution under a single operational umbrella.
Such arrangements also support broader industry efforts to improve sustainability and reduce operational risk. By consolidating operations under fewer vessel mobilizations and a streamlined service footprint, Oceaneering and its clients can minimize environmental impact while maintaining the highest safety and quality standards.
Continued Momentum in Offshore Services
Oceaneering’s announcement comes amid continued momentum in the offshore energy services market, fueled by increasing investment in subsea tiebacks, brownfield optimization, and digitalization initiatives. As offshore operators seek to maximize the return on existing infrastructure, demand for advanced IMR and installation services continues to rise.
The Offshore Projects Group has played a central role in Oceaneering’s recent growth, supported by a diverse fleet of vessels, a global ROV network, and robust in-house engineering capabilities. The group delivers turnkey solutions that combine project planning, asset deployment, offshore execution, and post-project reporting—all backed by a commitment to operational excellence and client satisfaction.
This vessel services agreement reinforces Oceaneering’s vision to be the preferred partner for integrated offshore operations, not only in the Gulf of Mexico but in offshore basins around the world. The company continues to invest in technologies and capabilities that allow it to adapt quickly to evolving project requirements, operational conditions, and regulatory environments.
Outlook and Strategic Direction
As the offshore oil and gas market evolves, Oceaneering is focused on advancing its integrated service model, expanding its presence in key markets, and deepening its collaboration with clients. The agreement for the Harvey Deep Sea represents a strategic win for Oceaneering’s OPG business and reflects growing recognition of the company’s ability to deliver value through innovation, reliability, and performance.
With offshore operators increasingly prioritizing asset integrity, uptime, and lifecycle cost efficiency, Oceaneering’s combination of specialized vessels, advanced ROVs, and experienced offshore teams positions the company as a go-to provider of comprehensive subsea solutions.