- Business
- Oceaneering International, Inc. (NYSE: OII; LSE: 0KAN) provides engineered services, products, and robotic solutions primarily to the offshore energy industry; the company delivers remotely operated vehicles (ROVs), subsea products including umbilicals, connection systems, and intervention tooling, asset integrity management services encompassing non-destructive testing, inspections, maintenance, and reliability programs, offshore projects group offerings such as subsea engineering, project management, diving services, and pipeline services, as well as advanced technologies for defense, aerospace, manufacturing, science, renewable energy including offshore wind and carbon capture, and entertainment sectors. Oceaneering operates through five key segments: Subsea Robotics, Manufactured Products, Offshore Projects Group, Integrity Management & Digital Solutions, and Aerospace and Defense Technologies; its services support all phases of offshore oil and gas activities from exploration and drilling through production, decommissioning, and integrity management, while extending to renewables, utilities, and government clients worldwide. The company maintains approximately 70 operational bases across 24 countries, with significant presence in the U.S. Gulf of Mexico, Brazil, Norway, the United Kingdom, Africa, Asia Pacific, and Australia; founded in 1964 and headquartered in Houston, Texas, Oceaneering employs around 10,400 people and reported 2024 revenue of $2.66 billion. In late 2024, Oceaneering acquired U.K.-based Global Design Innovation Ltd. (GDi), a provider of digital inspection and asset management software including Vision platform for remote visual inspections using point cloud data, to enhance its Integrity Management & Digital Solutions segment and expand capabilities in oil and gas, utilities, and power generation; the acquisition aligns with strategic growth in digital solutions and leverages GDi's UKAS certification for advanced data analytics. Recent contract awards include $180 million in subsea robotics with Petrobras, U.S. Navy corporate component repair and vessel services programs, and ROV services with Esso Exploration Angola; in November 2025, Falcon's Beyond Global acquired Oceaneering Entertainment Systems, bolstering external entertainment technology capabilities while Oceaneering focuses on core energy and technology segments; the company projects revenue and operating income growth across segments in 2025, with strong Q4 2024 results showing revenue up 9% to $713 million and adjusted EBITDA up 35% to $102 million.