Oceaneering Announces Award of Riserless Light Well Intervention Contract by bp Exploration (Caspian Sea) Limited

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HOUSTON--(BUSINESS WIRE)--Oct 28, 2025--

Oceaneering International, Inc. (“Oceaneering”) (NYSE:OII) announced that its Offshore Projects Group (OPG) has been awarded a contract by bp Exploration (Caspian Sea) Ltd. for the provision of riserless light well intervention services (RLWI) in the Azeri-Chirag-Deepwater Gunashli (ACG) oilfield of the Caspian Sea.

Oceaneering will support this multi-well mechanical wireline intervention campaign with one of its deepwater RLWI systems integrated onto a customer-provided subsea construction vessel. The scope of work will also include project management, engineering, and systems integration services provided by Oceaneering’s local and international personnel. Engineering and premobilization activities have commenced, and field operations are expected to commence in the fourth quarter of 2025.

Chris Dyer, Senior Vice President of OPG, stated, “Oceaneering has successfully provided RLWI solutions to help restore and improve production from existing wells in other deepwater regions of the world. We appreciate bp’s continued trust in our ability to safely provide reliable and cost-effective deepwater intervention solutions, particularly in support of the critical production in the Deepwater Gunashli area of the ACG field.”

For more information on Oceaneering’s riserless light well intervention systems, please visit: https://www.oceaneering.com/well-intervention/

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, provision of local and international personnel, and expected commencement of field operations. 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, please visit www.oceaneering.com.

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CONTACT: Hilary Frisbie

Senior Director, Investor Relations

713-329-4755

[email protected]

KEYWORD: TEXAS UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: OTHER DEFENSE OTHER ENERGY MACHINERY OIL/GAS ENERGY DEFENSE OTHER MANUFACTURING ENGINEERING MARITIME TRANSPORT AEROSPACE MANUFACTURING

SOURCE: Oceaneering International, Inc.

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PUB: 10/28/2025 05:01 PM/DISC: 10/28/2025 05:01 PM

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