Oceaneering

What Oceaneering does

Oceaneering International, Inc. is a Houston-based global engineering and subsea robotics company founded in 1964, publicly traded on the NYSE under ticker OII, and operating through four primary segments: Subsea Robotics, Offshore Projects Group (OPG), Aerospace and Defense Technologies (ADTech), and Manufactured Products. The company operates the world's largest fleet of work-class remotely operated vehicles (ROVs) — approximately 250 vehicles achieving 99% uptime and supporting over 61,000 days of utilization in 2024 — and complements this fleet with autonomous platforms (Freedom AUV, commercially deployed 2023), a subsea-resident system (Liberty, ~21,000 operational hours on the Norwegian Continental Shelf), the newly launched Momentum all-electric Work-Class ROV (March 2026) capable of 30-day continuous deployments, and a global network of Onshore Remote Operations Centers (OROCs) in the US, UK, Brazil, and Norway.

Its core technology stack includes subsea robotics hardware, the GDi digital platform (Vision 3D data visualization and Inform asset integrity management software, acquired via the Global Design Innovation deal in October 2024), DriX Uncrewed Surface Vessel capabilities (acquired from Exail in September 2023), and manufactured subsea hardware including thermoplastic composite pipe. The company monetizes primarily through day-rate ROV service contracts (multi-year terms up to five years), project-based subsea installation work for offshore field developments, and government defense contracts (with the ADTech segment growing 35.1% year-over-year in Q1 2026 to nearly 20% of total revenues).

Key customers include major offshore energy operators — Shell, TotalEnergies (partnered on Freedom AUV readiness), Chevron, Petrobras ($180M Subsea Robotics contract, Q3 2025), bp (Caspian Sea well intervention contract), Eni (Angola), and Burullus Gas (Shell JV in Egypt) — alongside U.S. defense agencies including the Department of Defense and the Department of War (maritime system down-selection, early 2025). With full-year 2025 revenue of $2.8 billion (+5% YoY), adjusted EBITDA of $401 million (+16% YoY, seventh consecutive year of growth), a 1.33 book-to-bill ratio, and ~$1 billion in Q1 2026 orders, Oceaneering is diversifying beyond its oil and gas base into defense, offshore renewables, and offshore spaceport infrastructure (per its April 2026 MOU with Seagate Space).

Name

Oceaneering

Legal name

Oceaneering International, Inc.

Website

https://oceaneering.com

Company type

Public

Founded year

1964

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Oceaneering International operates the world's largest fleet of work-class remotely operated vehicles (~250) and provides engineered subsea robotics, installation, and digital integrity services to offshore energy operators, U.S. defense agencies, and offshore renewable energy developers across four global segments.

Ownership category

akta.pro rank

Product category

Subsea Robotics & Offshore Engineering Services

NAICS

Ship Building and Repairing (336611)

SIC

Ship & Boat Building & Repairing (3730), Oil & Gas Field Machinery & Equipment (3533)

akta.pro primary industry

Underwater Inspection, Maintenance & Repair (UWILD, Diving/ROV, In-water Cleaning) (IMAJAFAJ)

akta.pro secondary industries

Underwater Hull Services (Diving, In-Water Cleaning, Propeller Polishing, Inspection) (TLAHAMAL), Underwater Salvage & Diving Operations (UWILD, Cutting, Welding) (IMAJANAD)

Keywords

• Subsea robotics services
• Remotely operated vehicles
• Offshore engineering services
• Subsea installation services
• Marine defense technologies

Headquarters

HQ city

Houston

HQ country

United States

HQ region

North America

Offices5 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Supply Chain, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Subsea Robotics: Operates the world's largest fleet of work-class ROVs (~250 vehicles with 99% uptime, 61,000+ days of utilization in 2024). Provides inspection, maintenance, repair, and survey services to offshore energy operators. Generates recurring service revenues through long-term contracts and day-rate arrangements.
2. Offshore Projects Group (OPG): Subsea installation, transportation, and commissioning services including umbilical, flowline, and subsea infrastructure installation. Revenue is project-based, tied to specific offshore development contracts.
3. Aerospace and Defense Technologies (ADTech): Provides engineered services and robotic solutions to the U.S. Department of Defense, Department of War, and other government agencies. Includes submarine rescue systems, maritime systems, and space-related services. Revenue from government contracts, growing to nearly 20% of total revenues. Includes record-setting government contract cited as the company's largest in that segment.
4. Manufactured Products: Manufactures and sells engineered products including地面 and subsea hardware, Thrusters, and other specialized equipment. Contributes to revenue through product sales alongside service streams.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core offering

Oceaneering is a global provider of engineered services, robotic solutions, and manufactured products to the offshore oil and gas industry, defense agencies, and renewable energy markets. The company operates the world's largest fleet of work-class remotely operated vehicles (ROVs) and autonomous underwater vehicles (AUVs), delivering subsea inspection, maintenance, repair, installation, and survey services. Operations are organized across four segments: Subsea Robotics, Offshore Projects Group, Aerospace and Defense Technologies (ADTech), and Manufactured Products.

Product overview

Oceaneering is a global technology company providing engineered services, robotic solutions, and manufactured products across offshore energy, defense, aerospace, and manufacturing industries. The company operates through four primary segments: Subsea Robotics (featuring the world's largest ROV fleet of approximately 250 vehicles including the new Momentum Electric ROV, Freedom AUV, and Liberty Resident System with autonomous capabilities), Aerospace and Defense Technologies (serving U.S. Department of War with maritime systems), Offshore Projects Group (installation and subsea services), and Manufactured Products (subsea hardware). The product portfolio is unified through digital platforms including Onshore Remote Operations Centers and GDi software (Inform, Vision 3D), enabling remote and autonomous operations across its robotics fleet for inspection, maintenance, drilling, surveys, and construction applications.

Differentiator

Problem solved

Functional benefit

Products and services

• Subsea Robotics Fleet Services
• Offshore Projects Group (OPG)
• Aerospace and Defense Technologies (ADTech)
• Momentum Electric Work-Class ROV
• Freedom AUV (Autonomous Underwater Vehicle)
• Liberty Resident ROV System
• Onshore Remote Operations Centers (OROCs)
• GDi Digital Platforms (Inform and Vision 3D)
• Manufactured Products
• DriX Uncrewed Surface Vessel

Quantifiable outcome

• ROV fleet uptime of 99%, supporting over 61,000 days of utilization in 2024
• +6 more outcomes

Named customers9 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability2 records

Feature7 records

Partnerships

Four partnerships are on record, tiered major and core.

• Burullus Gas Company (Shell JV)majorStrategic or Co-development Partner · 21 May 2026Oceaneering awarded an integrated offshore installation contract by Burullus Gas Company (a JV between EGPC and Shell Petroleum) for the West Delta Deep Marine gas field development offshore Egypt. Scope includes transportation, installation, and commissioning of a refurbished subsea umbilical and 2,000m thermoplastic composite pipe flowline at ~600m water depth. Operations on accelerated schedule to restore production.
• Astro Offshore (Adani Ports and Special Economic Zone Limited)coreStrategic or Co-development Partner · 12 May 2026Astro Offshore, the marine arm of India's Adani Group, partnered with Oceaneering to pursue specialized offshore and subsea opportunities across Europe. Astro Offshore acquired the Energy Savanah (renamed Astro Atlas), a 2021-built 97m DP2 vessel capable of 3,000m+ water depth, and deployed it under charter to Oceaneering for subsea construction, cable laying, and pipeline installation in Europe. Supports APSEZ's goal of a 200-vessel fleet and Rs 6,000 crore marine revenue by FY31 with Rs 13,000 crore capex.
• Strategic Technology Consulting (STC) / ArcfieldmajorImplementation/ SI/ Consulting Partner · 6 May 2026STC, a wholly owned subsidiary of Arcfield, was awarded a subcontract from Oceaneering to support design, build, test, and delivery of a maritime system for the U.S. Department of War. STC applies model-based systems engineering methods across the program lifecycle, with 398 system use cases developed as of January 2026. The three-year partnership culminated in Oceaneering's down-selection in early 2025.
• Seagate SpacecoreStrategic or Co-development Partner · 14 April 2026Oceaneering and Seagate Space signed a Memorandum of Understanding to jointly develop offshore launch infrastructure for Seagate Space's Gateway platform, covering system development, engineering maturation, integration support, and production opportunities. Seagate Space received Approval in Principle from the American Bureau of Shipping — the first under ABS offshore spaceport requirements. Initial offshore missions targeted as early as 2027. Announcement formalized at the 2026 Space Symposium in Colorado Springs.

Scale indicators11 records

Recent moves7 records

Expansion highlights7 records

Direct peers

• Subsea 7: Subsea 7 is a leading global subsea engineering, construction, and services company with a large ROV fleet and SURF (subsea umbilicals, risers, flowlines) capabilities. It is directly comparable to Oceaneering in subsea robotics and offshore installation services for major energy operators.
• Helix Energy Solutions Group: Helix provides ROV services, well intervention, and subsea robotics to offshore oil and gas operators, including chartered vessel operations. Comparable to Oceaneering in both ROV-as-a-service and well intervention scopes.
• TechnipFMC: TechnipFMC is a major provider of subsea production systems and integrated subsea services for offshore energy. Comparable to Oceaneering's Offshore Projects Group and subsea hardware manufacturing, with overlapping ROV and installation capabilities.
• DOF Subsea: DOF Subsea provides subsea construction, inspection, maintenance, and repair (IMR) and ROV services using a fleet of offshore support vessels. Comparable to Oceaneering's Subsea Robotics and OPG segments, especially in the North Sea and Brazil.

Broad incumbents

• Saipem: Saipem is a large integrated offshore EPCI contractor with subsea installation, drilling, and offshore fabrication services. Comparable to Oceaneering at the project installation level, but operates a much broader portfolio across energy and infrastructure.
• McDermott International: McDermott is a global offshore engineering, procurement, construction, and installation (EPCI) contractor serving offshore energy. Comparable to Oceaneering's Offshore Projects Group in subsea and SURF installation scopes, but broader in scope and scale.
• Schlumberger (SLB): SLB is the world's largest oilfield services company with broad upstream capabilities including subsea intervention and digital solutions. Comparable to Oceaneering as a customer-overlap and capability-overlap incumbent in offshore services.
• Halliburton: Halliburton is a leading global oilfield services company with offshore drilling and subsea capabilities. Comparable to Oceaneering as a major offshore services incumbent serving many of the same energy operator customers.

Regional players

• Bibby Offshore (Bibby Marine): Bibby Offshore provides subsea construction, ROV, and survey services primarily in the North Sea and Europe. Comparable in scope to Oceaneering's Subsea Robotics services, with strong regional overlap especially in the UK and Norwegian sectors.

Emerging players

• Van Oord: Van Oord is a Dutch marine contractor with growing offshore wind installation and subsea cable laying capabilities. Comparable to Oceaneering's expansion into offshore renewables and subsea power cable installation through the Rosyth expansion.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/oceaneering
• Facebookfacebook.com/oceaneering
• LinkedInlinkedin.com/company/oceaneering

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries3 records

Funding overview

Funding rounds4 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A15 records

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Oceaneering