Subsea 7 S.A. has announced it has secured an extension to the existing contract (worth between US$50 million and US$150 million) by BP Exploration Operating Company Ltd, for the provision of Subsea Construction, Inspection, Repair and Maintenance services in the North Sea.
Pursuant of this agreement, Subsea 7 will provide BP with an additional two years of cost-effective IRM delivery, extending the contract to 2019. It covers the maintenance of the Schiehallion, Loyal, Foinaven and East Foinaven fields west of Shetland. The contract is expected to provide increased operational value and return for BP and its joint venture partners in the respective fields (Shell, OMV, Marathon Oil and Faroe Petroleum).
Project management and engineering work will be managed from Subsea 7’s Aberdeen office, UK.
Phil Simons, Vice President UK and Canada, commented: “We are pleased to extend our delivery of IRM services for BP’s west of Shetland developments. In the current commercial environment our track record in IRM and in-house capability for remote tooling design, build and operation, ensure we continue to offer low-cost solutions and respond to our client’s challenges and needs. We look forward to working with BP on maximising the production objectives for their operated fields.”
Edited from press release by Angharad Lock
Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/02032016/subsea-7-awarded-contract-offshore-uk-2634/