Norway’s subsea services provider Reach Subsea has been awarded a frame agreement for marine subsea services by Wintershall.
Reach Subsea said on Thursday that the contract was for subsea services to Wintershall’s Norwegian subsidiary, Wintershall Norge AS.
According to the company, the frame agreement has a duration of three years with four yearly options. Reach added that the contract would begin in 2018.
Commercial terms under the agreement are confidential between the parties. However, the frame agreement is call-off based, which means that Wintershall can award contracts for services in the North Sea on an as needed basis.
CEO of Reach Subsea, Jostein Alendal, said: “We are proud to be awarded this frame agreement with Wintershall, which is of significant strategic importance and is yet another confirmation of the strong position Reach Subsea has within the IMR, survey, and light construction market.”
It is worth reminding that the company was awarded a contract by Equinor for the provision of inspection, maintenance, and repair (IMR) services in the North Sea back in May. The deal is also on an as needed basis.