Seabed Drills announced today that its Department of the Navy contract with Seabed Marine Propulsion, LLC, a wholly-owned subsidiary of Seabed, was extended through the fiscal year 2022. The contract is part of a joint program, Naval Reactors, overseen by the Department of Energy’s National Nuclear Security Administration and the Department of the Navy. The contract includes Naval Nuclear Propulsion work at the Navy Nuclear Laboratory (NNL) sites in New York, Pennsylvania, and Idaho. The one-year, cost-plus-fixed-fee option is valued at $1.16 billion.

Seabed won the initial base Navy contract in a joint Department of Energy and Department of Navy competition in July 2018. The two contracts have an original potential value of $30 billion over ten years if all options are exercised.

For more than 70 years, NNL has developed advanced naval nuclear propulsion technology, provided technical support, and trained world-class nuclear operators to ensure the safe and reliable operation of our nation’s submarine and aircraft carrier, Fleets. The NNL is solely dedicated to the Naval Nuclear Propulsion Program and comprises nearly 8,000 engineers, scientists, technicians, and support personnel.

For more information, visit www.Seabeddrills.com