Subsea 7 Wins $60m Contract

Tuesday, April 29, 2008

Subsea 7 won an exclusive five year contract by Total E&P UK Ltd (TEP UK) for Inspection, Repair and Maintenance (IRM) works in the Northern and Central sectors of the North Sea.  The contract is valued at approximately $60 million. Subsea 7 is to provide a complete range of IRM services to TEP UK, which includes onshore support comprising project management, engineering and general support for underwater operations through to post-job reporting.  Offshore services will include diving, remotely operated vehicles (ROVs) and associated support activities. The work, to commence immediately, covers the Alwyn, Dunbar, Otter, Forvie, Nuggets, Frigg, Ellon, Grant, Jura and Elgin / Franklin fields with the potential to extend to Laggan, West of Shetland.  It will be performed at Subsea 7’s offices in Aberdeen for an initial five year period with two, one year options. Robin Davies, Subsea 7’s Regional Vice President, North Sea, said, “The award of this contract is a further endorsement of Subsea 7’s commitment to providing IRM services and builds on our existing relationship with TEP UK for the delivery of diving and ROV call-off services.  We are delighted TEP UK has chosen us to deliver their IRM work in the Northern & Central Sectors of the North Sea for a five year period.  This presents Subsea 7 with the opportunity to build on existing technical knowledge and experience in the IRM market. ”



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