Offshore installation services company Subsea 7 on Tuesday announced an extension of its existing frame agreement with the Norwegian oil company Aker BP for four years to the end of 2028.
The agreement covers the provision of engineering, fabrication and installation activities for subsea umbilical, risers and flowlines (SURF) as part of Aker BP’s field developments on the Norwegian continental shelf.
The value of the work to be called off under the frame agreement will be recognised in Subsea7’s backlog when each new project is sanctioned, Subsea 7 said.
Monica Th. Bjørkmann, Senior Vice President for Subsea7 Norway said: “The continuation of the frame agreement is a testament to our collaboration with Aker BP. The strategic partnership enables Subsea 7 to engage early in the field development process, optimising design solutions and contributing to positive final investment decisions for future projects on the Norwegian continental shelf.”