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Oceaneering Awarded Contract by Esso Exploration Angola (Block 15) Limited for ROV Services and Integrated Solutions

1. OII secures a contract with Esso for Angola operations. 2. Contract expected to generate $80M to $90M over three years. 3. Contract reflects OII's capabilities in subsea robotics and services. 4. Renewed contract enhances OII's position in Angola's offshore sector. 5. Forward-looking statements include various risks and uncertainties.

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FAQ

Why Bullish?

OII's new contract with Esso reinforces revenue stability and growth outlook. Similar past contracts have positively influenced OII's stock performance.

How important is it?

The secured contract represents significant revenue and strategic positioning for OII, likely influencing investor confidence and attracting interest.

Why Long Term?

The contract's three-year duration suggests sustained revenue over time, positively affecting long-term valuation. Historical contracts have shown consistent revenue streams benefiting OII.

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HOUSTON--(BUSINESS WIRE)--Oceaneering International, Inc. (NYSE:OII) announced that its subsidiaries, Oceaneering Angola, S.A. and Oceaneering Marine Technologies Ltd. (collectively, “Oceaneering”), have been awarded a contract by Esso Exploration Angola (Block 15) Limited (“Esso”), an affiliate of ExxonMobil, for services in support of Esso’s offshore operations in Angola Block 15. The contract, which commenced on July 1, 2025, is expected to generate $80 million to $90 million in revenue over its three-year term."This award not only reflects our capabilities in country for subsea robotics and intervention services but also supports our continued growth in a strategically important region.”Share This contract was re-awarded following a competitive bidding process. The scope of work includes the provision of multiple work-class ROVs, ROV tooling, intervention workover control systems (IWOCS), satellite communication systems, and subsea inspection, hydrate remediation, and engineering services. These services will be deployed from Esso-supplied facilities, intervention vessels, and drilling rigs. Subsea Robotics Senior Vice President Martin McDonald stated, “Securing this contract renewal with Esso, a key customer, through a competitive process reinforces our position as a trusted partner in Angola’s offshore energy sector. This award not only reflects our capabilities in country for subsea robotics and intervention services but also supports our continued growth in a strategically important region.” Statements in this press release that express a belief, expectation, or intention, as well as those that are not historical fact, are forward-looking. The forward-looking statements in this press release include statements concerning Oceaneering’s work scope, contract value, and contract duration. These forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and are based on current information and expectations of Oceaneering that involve a number of risks, uncertainties, and assumptions, including risks and uncertainties related to counterparty performance under contracts and market conditions and other economic factors affecting Oceaneering’s business. Should one or more of these risks or uncertainties materialize, or should the assumptions underlying the forward-looking statements prove incorrect, actual outcomes could vary materially from those indicated. These and other risks are more fully described in Oceaneering’s latest annual report on Form 10-K and its other periodic filings with the Securities and Exchange Commission. Oceaneering is a global technology company delivering engineered services and products and robotic solutions to the offshore energy, defense, aerospace, and manufacturing industries. For more information on Oceaneering, please visit www.oceaneering.com. More News From Oceaneering International, Inc.

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