Oceaneering Secures Framework Agreement with Equinor for Fabric Maintenance Services

Equinor has awarded a fabric maintenance contract to US-based subsea engineering company Oceaneering International. The contract, which extends through July 2027, includes options for four additional one-year extensions, potentially spanning six years. The agreement covers comprehensive services for onshore and offshore installations, focusing on risk awareness and asset integrity, with Oceaneering's approach aiming to reduce downtime and enhance operational efficiency.

Oceaneering International, Inc. (OII) has secured a significant fabric maintenance contract from Equinor, a major Norwegian energy company. The contract, which spans from July 2025 to July 2027, includes options for four one-year extensions, potentially extending the agreement to six years. This comprehensive contract covers a wide range of services for both onshore and offshore installations, focusing on risk awareness and asset integrity [1].

The agreement emphasizes Oceaneering's expertise in reducing downtime and enhancing operational efficiency. This partnership is a testament to Equinor's trust in Oceaneering's capabilities and its commitment to maintaining high operational standards. The contract details have not been publicly disclosed, but it is anticipated to cover advanced subsea robotics services, inspection, maintenance, and repair activities crucial for Equinor's offshore operations.

Oceaneering's extensive experience in the subsea engineering sector, coupled with its advanced technology, positions it as a reliable partner for Equinor. The company's work-class ROVs, equipped with the latest tools and sensors, enable precise operations in challenging offshore environments, ensuring high standards of safety, efficiency, and reliability.

This contract win further solidifies Oceaneering's presence in the global offshore energy market. It also reflects Equinor's strategic approach to maintaining and enhancing its offshore infrastructure, aligning with the company's long-term vision of sustainable and efficient energy production.

The contract award comes amidst a period of significant growth for Oceaneering. In the second quarter of 2025, the company secured multiple subsea robotics contracts with Petrobras, Brazil's state-owned oil and gas company, valued at approximately $180 million in aggregate revenues [2]. These contracts underscore Oceaneering's leadership in subsea robotics and its ability to support complex subsea challenges with innovative robotic solutions.

Looking ahead, Oceaneering's continued success in securing such contracts indicates its strong market position and technological leadership. The company's ability to deliver high-quality services and maintain a robust pipeline of projects bodes well for its future growth prospects.

References:
[1] https://www.nasdaq.com/articles/oceaneering-secures-subsea-robotics-contracts-petrobras
[2] https://energynews.pro/en/bw-offshore-selected-by-equinor-for-bay-du-nord-fpso-development/