Oceaneering International, Inc. (OII: NYSE)

Oceaneering International, Inc. (OII: NYSE), a global leader in subsea engineering and applied technology, is shaping the energy industry's future with services that meet the world’s net zero goals. The company’s unparalleled experience of six decades spanning projects in harsh environments enables it to plan and react according to diverse client requirements that persistently change throughout the project lifecycle.

Renowned for its innovative solutions and commitment to solving complex operational challenges, Oceaneering International offers various services, including remotely operated vehicles (ROV), subsea hardware, umbilicals and intervention tooling. The company’s integrated service approach powers it to offer various shallow water hazard surveys and geophysical mapping options.

High-resolution AUV Surveys and Data-Driven Insights

Oceaneering International is the first to provide autonomous underwater vehicle (AUV) survey services to the offshore oil and gas industry globally. Recently, the company was awarded a multi-million dollar contract by the Defense Innovation Unit of the U.S. Department of Defense to build an AUV and establish an Onshore Remote Operations Center (OROC) for the U.S. Navy. The award reflects the company’s ability to leverage technology originally developed to support the offshore energy industry into other markets, including the defense industry.

“Our global footprint and worldwide supply chain allows Oceaneering to maintain a 99 percent uptime for the world’s largest fleet of work class subsea robotic vehicles,” says Martin McDonald, senior vice president for subsea robotics. “Oceaneering is able to leverage our existing facilities and supply chain to manufacture vehicles at scale, as we have done and continue to do for the energy industry.”

Its AUV surveys, including downed aircraft searches, deep water coral mapping, environmental studies and high-resolution 3D microseismic at 13-ft (4-m) line spacing, are used to extract high-quality data. The combination of IntegReview software, a visualization tool for diverse data types, and a geographic information system (GIS) is key to the success of its pipeline inspection surveys within the ArcGIS environment.

These data form the foundation for the geohazard surveys, identifying hazardous seabed and near-seabed conditions for projects. The geoscience reports drafted with these surveys exceed international engineering requirements, as well as the Bureau of Ocean Energy Management and the Bureau of Safety and Environmental Enforcement guidelines.
Enhancing Marine Projects with Remote-Controlled Robotics

Oceaneering C-Nav Positioning Solutions has been the industry's game-changer with its low earth orbit (LEO) satellite-based correction service. It addresses conventional challenges like masking and high latitudes with Iridium's LEO satellites, ensuring remarkable redundancy and uptime for operations support.

The company’s excellence in ROV positioning, subsea metrology and remote survey services guarantees accurate operations throughout all phases of marine construction. Its resident subsea robotic solution, the Liberty Resident System and Freedom AUV, can be operated remotely from OROCs worldwide. This enhances oversight and efficiency, reducing the carbon footprint and project risks.

The robust technology supported by a remote piloting system in the ROV improves the safety of carbon capture and storage (CCS) in the environment. Through regular proactive inspections, the company monitors common CCS concerns, including corrosion, pitting and embrittlement fractures.

Oceaneering International’s Chemical Throttle Valve is the industry’s only design that combines a full-flush position with an integrated mechanical scraper and eliminates the requirement for topside injection and dedicated umbilical lines. These features ensure superior contamination tolerance and deliver unmatched, accurate long-term performance without subsea filters.

Ensuring Safety in Extreme Conditions

The same level of integrity and efficiency is visible across all of Oceaneering International’s projects, whether hydrogen energy, fixed offshore wind or nuclear energy. From facility fabrication to ongoing maintenance and eventual decommissioning, every step is carefully executed for the best results. Its Grayloc connectors are widely used in critical service applications as they can manage high-pressure and high-temperature environments. The metal sealing technology ensures leak-free performance. These connectors were extensively used in the hydrogen processing piping system, with valves incorporating Grayloc ends.

In one instance, a gas leakage caused a small but intense fire in a large petrochemical facility where Grayloc systems were used. This was traced to an external packing gland in the hydrogen processing unit, which contained 80 percent hydrogen gas operating at 6,000 psi. The intense heat destroyed three control valves, the operator housings were melted and the control functions were lost. In the post-incident inspection, the company established that the connectors maintained their sealing integrity despite exposure to temperatures ranging from 2,000°F to 3,000°F. The customer reduced downtime and expenses associated with replacing and repairing fire-damaged system components due to the ease of disassembly and reassembly of the connectors. Thanks to Oceaneering International, they avoided catastrophic outcomes by preventing a leak and averting any potential knock-on effects of the incident.

Setting Standards in Nuclear Power Inspection

Oceaneering International’s multi-certified inspection personnel and engineering teams complete bespoke nuclear-focused training and develop and execute inspection programs for nuclear power station components. Its products and services support global nuclear power facilities and continue to evolve to meet increasing demands, including solutions for emerging technologies like Generation IV and small modular reactors.

Its 18-person team of skilled radiographers has captured over 20,000 exposures on-site to support the building program and requirements at a nuclear power plant. An additional 10,000 exposures have been documented as part of offsite operations, wherein support frames are inspected at a local fabrication facility before shipment and installation.

The team diligently examines inspection data to identify irregular profiles, defects and anomalies. They remain on-site until the nuclear power plant's commissioning is completed. Clients often express high satisfaction with their performance.

Oceaneering International consistently establishes industry standards through its innovative solutions and steadfast commitment to excellence. Its proactive approach to safety, efficiency and sustainability enhances operational performance, ensuring long-term reliability and environmental stewardship.