Newswire — Subsea7 announced a sizeable extension of an existing frame agreement by bp, for subsea construction, inspection, repair and maintenance services (IRM), across bp’s North Sea assets. According to a company statement, the extension award is worth between $50 million and $150 million.
This is the agreement’s latest extension since the original frame agreement began in 1998. Under the terms of this two-year extension to the end of 2025, Subsea7 will provide an IRM, survey and light construction vessel, complete with work class and observation class remotely operated underwater vehicles (ROV), capable of performing inspection, survey, intervention, subsea construction and emergency response services.
Project management and engineering work will continue to be managed from Subsea7’s office in Aberdeen.
Steve Wisely, Senior Vice President for Subsea7 UK & Global Inspection, Repair and Maintenance, said, “We are immensely proud of the safe and effective IRM services we have executed for bp for 25 years across its west of Shetland assets. Supporting bp in what is notably one of the harshest offshore environments, has significantly contributed to the expansive deepwater project delivery expertise that we offer across the globe.”