Subsea 7 Wins $300M North Sea Contract from BP

Oilfield services firm Subsea 7 announced Friday that it has been awarded a $300 million contract to extend its current deal with BP to supply subsea construction, inspection, repair and maintenance services in the North Sea. The five-year contract extension will run until 2017.

Under the terms this contract Subsea 7 said it will deploy its multi-purpose support vessel Subsea Viking to provide extensive support services primarily for BP's operations in the Foinaven and Schiehallion fields, west of Shetland, as well as support for BP assets elsewhere in the North Sea.

"We are delighted with this significant award from BP which will secure 100 UK jobs. Subsea 7 has successfully supported BP's operations in the very challenging deep water environment west of Shetland since 1998 and today's announcement will see that relationship continue for at least a further five years," Steph McNeill, Subsea 7's vice president with responsibility for the UK and Canada, said in a statement.

The work will be carried out from Subsea 7's 'Subsea Centre of Excellence' facility in Aberdeen.

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