Oceaneering Wins Potential $119M Contract to Manage Navy Submarine Rescue Systems

Oceaneering International has won a potential five-year, $119M contract to help the U.S. Navy ensure global deployment readiness of submarine rescue systems.

The Hanover, Maryland-based company will perform maintenance, repair, logistical, operation, mobilization and storage services under the cost-plus-fixed-fee contract, the Department of Defense said Thursday.

The award has a $22.4M base value and would reach its potential value if the branch exercises all four options.

Naval Sea Systems Command received two offers via a competitive solicitation. Oceaneering will initially receive $3M and perform work in San Diego, California, through September 2025.

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