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.