Subsea 7 Extends Contract with BP for North Sea Assets

Offshore services firm Subsea 7 has extended an existing frame agreement with BP for subsea construction, inspection, repair and maintenance (IRM) services across the oil and gas major’s North Sea assets.

This is the latest extension since the original frame agreement began in 1998, Subsea 7 said.

Under the terms of the two-year extension to the end of 2025, Subsea 7 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 Subsea 7’s office in Aberdeen, the company confirmed.

Steve Wisely, Senior Vice President for Subsea 7 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 deep-water project delivery expertise that we offer across the globe.”

The worth of the contract extension is in the $50 million to $150 million range.