Oil States Announces Contract Award for Merlin™ Deepsea Mineral Riser System

By: Oil States International, Inc. via Business Wire

September 14, 2023 at 17:00 PM EDT

Oil States International, Inc. (NYSE: OIS), a global provider of manufactured products and services for the energy, industrial and military sectors, today announced its receipt of a notable contract for its award-winning Merlin™ Deepsea Mineral Riser system. The system will be deployed to harvest critical seabed minerals such as cobalt, manganese, nickel and rare earth elements which are key components in batteries for electric vehicles, solar cells, wind turbines, computers and smartphones.

Oil States has applied more than 40 years of experience as a leader in the design and manufacture of advanced connection systems for deepwater offshore applications to meet the new demands of deepsea mineral harvesting with its OSI Minerals™ division and the Merlin™ Deepsea Mineral Riser system. Deepsea mineral recovery requires expertise in ultra-deepwater environments far away from the closest harbor, as equipment must be durable and reliable for this technically and operationally challenging environment. Oil States is in a unique strategic position to support the cultivation of a stable supply of these important minerals that are required to diversify the world’s energy sources.

Oil States' President and Chief Executive Officer, Cindy B. Taylor, commented, "We are very proud of the industry's recognition of our expertise and the technologies we have developed to enable pathways toward a lower-carbon multi-source energy mix to meet growing global energy demands. We are connecting the energy future by leveraging our rich oil and gas heritage to support the development of additional energy sources while augmenting our core technologies, setting the stage for longer-term growth.”

About Oil States, International, Inc.

Oil States International, Inc. is a global provider of manufactured products and services to customers in the energy, industrial and military sectors. The Company's manufactured products include highly engineered capital equipment and consumable products. Oil States is headquartered in Houston, Texas with manufacturing and service facilities strategically located across the globe. Oil States is publicly traded on the New York Stock Exchange under the symbol "OIS."

For more information on the Company, please visit Oil States International's website at www.oilstatesintl.com.

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