|Exchange:||New York Stock Exchange|
|Industry:||Oil & Gas Equipment & Services|
|Oceaneering International was organized in 1969. The Company is a global oilfield provider of engineered services and products primarily to the offshore oil and gas industry, with a focus on deepwater applications. Through the use of its applied technology expertise, Oceaneering also serves the defense and aerospace industries. Since its establishment, it has concentrated on the development and marketing of underwater services and products requiring the use of advanced deepwater technology. The Company is underwater services contractors, providing services and products to oil and gas industry including remotely operated vehicles, built-to-order specialty hardware, engineering and project management, subsea intervention services, nondestructive testing and inspection, manned diving and mobile offshore production systems. The Company’s international operations are mainly in the North Sea, West Africa, Brazil, Australia and Asia. The Company’s business segments are contained within two businesses - services and products provided to the oil and gas industry (‘Oil and Gas’) and all other services and products (‘Advanced Technologies’). The Company’s four business segments within the Oil and Gas business are Remotely Operated Vehicles (‘ROVs’), Subsea Products, Subsea Projects, and Asset Integrity. The Company constructs a variety of built-to-order specialty subsea hardware to ISO 9001 quality requirements. These products include: various types of subsea umbilicals utilizing thermoplastic hoses and steel tubes; ROV tooling and work packages; production control equipment; installation and workover control systems; clamp connectors; pipeline connector and repair systems; subsea tooling; subsea and topside control valves; subsea chemical injection valves; and blowout preventer control systems. The Company uses its ROVs in the offshore oil and gas industry to perform a variety of underwater tasks, including drill support, installation and construction support, pipeline inspection and surveys, and subsea production facility operation and maintenance. The Company performs subsea intervention and hardware installation services, primarily in the U.S. Gulf of Mexico, from two owned and two chartered multiservice deepwater vessels. These services include: subsea well tie-backs; pipeline/flowline tie-ins and repairs; pipeline crossings; umbilical and other subsea equipment installations; subsea intervention; and inspection, repair and maintenance activities. Through its Asset Integrity division, the Company offers a range of asset integrity services to customers worldwide to improve the reliability and safety of their facilities onshore and offshore, while reducing their unplanned maintenance and repair costs. It also provides third-party inspections to satisfy contractual structural specifications, internal safety standards or regulatory requirements. The Company’s Advanced Technologies segment provides engineering services and related manufacturing principally to the U.S. Department of Defense, NASA and its contractors, and the commercial theme park industry. The raw materials that the Company uses in manufacturing operations, such as steel in various forms, copper, electronic components and plastics, are available from many sources. The Company markets its ROVs, Subsea Products, Subsea Projects and Asset Integrity services and products to domestic, international and foreign national oil and gas companies engaged in offshore exploration, development and production. The Company’s businesses operate in highly competitive industry segments. It competes for contracts with companies that have worldwide operations, as well as numerous others operating locally in various areas. The Company’s operations are affected from time to time and in varying degrees by foreign and domestic political developments and foreign, federal and local laws and regulations.|
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