Subsea7 has secured a sizeable extension of an existing frame agreement by Equinor for subsea inspection, maintenance and repair services using the vessel Seven Viking.
The extension continues a frame agreement first signed in 2018 and runs through the end of 2027.
Under the terms of the deal, Seven Viking will carry out inspection, maintenance and repair services at Equinor’s oil and gas wells across the Norwegian Continental Shelf.
Project management and engineering work will continue to be handled from Subsea 7’s office in Stavanger, the company said.
Subsea7 defines a sizeable contract as one valued between $50 million and $150 million.
“We value that Equinor has decided to exercise the option to extend the IMR contract for Seven Viking, and we look forward to continuing to support safe and efficient operations for them, on the Norwegian Continental Shelf,” said Erik Femsteinevik, vice president of Subsea7 Norway.