Subsea 7 bags three-year extension offshore UK

Subsea engineering company Subsea 7 has been awarded a sizeable three-year extension of an existing Diving Support Vessel initiative (DSVi) frame agreement offshore the UK. 

Source: Subsea 7

Subsea 7 said on Monday that the agreement is with seven North Sea clients: Chevron North Sea, Dana Petroleum, Hess Denmark, Nexen Petroleum, Repsol Sinopec Energy UK, Shell UK, and TAQA Bratani.

Under this frame agreement, Subsea 7 will continue to provide diving support vessel services on a year-round basis, as well as associated project management and engineering services for up to 50 offshore facilities in the North Sea.

This award follows on from the original frame agreement awarded in 2009, which was most recently extended in 2016. This year Shell UK became the seventh client to join this collaborative approach, in which all seven operators benefit through the sharing of these services.

The scope of work includes diver and ROV inspection, repair and maintenance, subsea construction and decommissioning services, and dedicated long-term project support. Project execution and engineering work is managed from Subsea 7’s Aberdeen office.

Subsea 7 defines a sizeable contract as being between $50 million and $150 million.

In related news, energy minister of Equatorial Guinea last week ordered oil and gas companies working in the country to cancel all contracts with Subsea 7, accusing the offshore services company of not complying with the country’s local content rules.

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