Oceaneering Secures Subsea Robotics Contracts With Petrobras

Oceaneering International, Inc.’s OII subsidiary, Marine Production Systems do Brasil LTDA (“MPS”), has secured several important subsea robotics contracts with Brazil’s oil and gas company, Petrobras PBR, in the second quarter of 2025. These contracts, won through a highly competitive tender process, are valued at approximately $180 million in aggregate revenues and mark a significant expansion of Oceaneering's footprint in Brazil’s offshore energy sector.

What These Contracts Mean for Oceaneering and Petrobras

The awarded contracts cover an extensive range of subsea support services, reflecting Oceaneering’s expertise in delivering advanced technological solutions to offshore energy operations. Under these agreements, Oceaneering will deploy its work-class ROV fleet, specialized tooling packages, and survey services aboard multiple anchor handling and ROV support vessels operating on Petrobras projects offshore Brazil.

Key operational areas covered by the contracts include inspection, maintenance, repair and decommissioning activities critical to Petrobras’ offshore infrastructure integrity. Additionally, Oceaneering will also handle subsea and surface positioning, assist with Floating Production Storage and Offloading hook-ups, inspect mooring systems and support pile installations. This wide scope shows how versatile and essential Oceaneering’s capabilities are to Petrobras’ operations. This broad spectrum of work highlights Oceaneering’s capability to support complex subsea challenges with innovative robotic solutions.

Strategic Contract Durations and Operational Timelines

Each contract is structured with a four-year duration, featuring options for extensions that provide long-term stability and predictability for both OII and PBR. The start dates for these contracts are staggered, beginning in the third and fourth quarters of 2025 and continuing into the first quarter of 2026. This phased commencement allows OII to meticulously allocate resources, optimize project schedules and ensure seamless operational delivery.

Strengthening Oceaneering’s Presence in Brazil’s Offshore Market

Martin McDonald, senior vice president of Subsea Robotics at Oceaneering, emphasized the strategic importance of these contracts. He highlighted that this contract win consolidates OII’s position as a global leader in subsea robotics services while deepening its longstanding relationship with PBR. These contracts reinforce Oceaneering’s confidence in the resilience and growth potential of offshore energy markets, particularly within Brazil.

Oceaneering’s nearly 30-year continuous presence in Brazil demonstrates a deep commitment to the region. Through MPS, Oceaneering operates multiple critical facilities designed to support comprehensive subsea operations. These include an advanced center for ROV services, survey operations, subsea intervention tooling, engineered solutions and an onshore Remote Operations Center strategically located in Macaé, the hub of Brazil’s offshore oil and gas industry. Furthermore, Oceaneering’s umbilical manufacturing plant in Niterói strengthens its local supply-chain and technological capabilities.

Technological Leadership and Operational Excellence

Oceaneering is known for its advanced subsea robotics technology. The company’s work-class ROVs are equipped with the latest tools and sensors, enabling them to carry out precise operations in challenging offshore environments. This technological edge ensures Petrobras’ projects receive the highest standards of safety, efficiency and reliability.         

The Remote Operations Center in Macaé represents a significant advancement in real-time subsea monitoring and control, providing enhanced operational oversight and rapid response capabilities. By integrating advanced survey technologies and subsea positioning systems, Oceaneering ensures optimal asset integrity management and supports Petrobras in meeting its operational and environmental goals.

Supporting Brazil’s Offshore Energy Future

By winning these contracts, Oceaneering plays a vital role in helping Petrobras maintain and expand Brazil’s offshore energy infrastructure. The company’s services are essential for keeping production flowing smoothly, safely and cost-effectively. This partnership also aligns with Brazil’s goals of developing its energy resources and strengthening energy independence.

Outlook and Market Impact

These contracts provide Oceaneering with valuable insight into future business opportunities and allow it to allocate resources strategically for continued growth. The win reflects the trust Petrobras places in Oceaneering’s expertise and reinforces its standing as a leader in subsea robotics.

With strong operations, cutting-edge technology and a deep understanding of the Brazilian market, Oceaneering is well-positioned to support the country’s expanding offshore exploration and production activities. This milestone strengthens its reputation as a reliable partner not only for Petrobras but for the global offshore energy industry.

In conclusion, these new contracts are a big win for Oceaneering and show just how important their technology and expertise are to Petrobras. It is not only about expanding their business but also about supporting Brazil’s offshore energy industry in a safe, efficient and reliable way. This partnership reflects a strong, long-term relationship and sets the stage for continued growth and success for both companies in the years ahead.

OII's Zacks Rank & Other Key Picks

Currently, OII holds a Zacks Rank #2 (Buy), while PBR carries a Zacks Rank #3 (Hold).

Investors interested in the energy sector might look at some other top-ranked stocks like Repsol REPYY and  Precision Drilling PDS, each currently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Repsol is a global energy company known for its integrated operations spanning exploration, production, refining and marketing of oil and gas. It actively pursues innovation and sustainability initiatives to transition toward cleaner energy solutions while maintaining a strong presence in key international markets. Repsol is valued at $18.72 billion. 

Precision Drilling is a leading provider of drilling and well-servicing to the oil and gas industry, known for its advanced technology and operational expertise. The company focuses on delivering efficient and safe drilling solutions across North America. Precision Drilling is valued at $753.90 million.

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