bp has extended an existing frame agreement with Subsea7 SA for subsea construction, inspection, repair, and maintenance services (IRM), across bp’s North Sea assets.
This is the agreement’s latest extension since the original frame agreement across its west of Shetland assets began in 1998, the service provider said in a release Dec. 19. Under the terms of the 2-year extension to end-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, the company said.
Project management and engineering work will continue to be managed from Subsea7’s office in Aberdeen.
Subsea7 places the value of the extension at $50-150 million.
