What is the brand Oceaneering International? Founded in 1964, the company began as a dive shop in the Gulf of Mexico. In 1969, it merged with two other dive shops and began providing diving services for oil rigs. During its first 40 years, the company performed inspections of oil rig legs. The company’s headquarters moved to Houston, Texas in 1980, and the company was preparing for a planned merger with the French firm Comex S.A. in 1981, but the deal never materialized.
By 1998, the parent company, Oceaneering Interactive, had revenues of $358 million and a net income of $22 million. The company employed over 2,600 people worldwide and had just begun its five-year capital improvement plan. In the five years from 1997 to 2002, the company invested $450 million in capital projects, with most of the money spent on oilfield-related projects. Its Multiflex umbilical operations expanded and incorporated a manufacturing facility in Brazil.
The brand’s mission is to increase the net wealth of its stockholders. The company focuses on providing technical solutions that are cost-efficient, safe, and quality-based. Its offerings are diverse, and include a variety of engineering and project management services. Whether customers require remote-operated vehicles (ROVs), underwater drilling support, or inland environmental inspections, Oceaneering has an answer for them.