Oceaneering Wins $86M Navy Contract for Repair Services

Oceaneering International has secured an $86 million contract from the U.S. Navy for the repair and maintenance of naval equipment. The contract, awarded to the company's Marine Services Division, will be managed by the Naval Supply Systems Command Weapon Systems Support in Pennsylvania. Oceaneering International specializes in aerospace and defense technologies.

Houston, TX — Oceaneering International, Inc. (“Oceaneering”) (NYSE: OII) has been awarded an indefinite-delivery/indefinite-quantity (IDIQ) contract by the Naval Supply Systems Command Weapon Systems Support (NAVSUP WSS) in Mechanicsburg, Pennsylvania. The contract, valued at up to $86 million, is for the repair of valves and actuators in support of the U.S. Navy’s Corporate Component Repair Program (CCRP) for Virginia-class and Los Angeles-class submarines [1].

The base contract has a two-year initial term with provisions for three additional option years. Oceaneering’s Marine Services Division will perform the work at its facilities. The company has been supporting the CCRP program for the past eight years, providing critical repair and overhaul services to sustain the high performance of U.S. Navy submarines [1].

The CCRP streamlines the repair of vital submarine components through competitive, performance-based contracts, ensuring rapid turnaround and cost-effective support to the fleet. Funding for the contract will be provided through Navy Working Capital Funds, with the minimum contract amount obligated at award [1].

Bill Merz, Senior Vice President of ADTech, stated, “Our team’s experience, technical expertise, and dedication continue to contribute to the U.S. Navy’s enduring undersea dominance. This award recognizes our commitment to delivering high-quality, reliable, and timely repair services to support their mission. We look forward to this and other future opportunities” [1].

Oceaneering International is a global technology company delivering engineered services and products and robotic solutions to the offshore energy, defense, aerospace, and manufacturing industries [1].

References:
[1] https://www.nasdaq.com/press-release/oceaneering-awarded-us-navy-corporate-component-repair-program-contract-2025-08-20