Subsea 7 seals substantial North Sea asset deal with BP

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Deepwater services firm Subsea 7 has announced a multi-million pound deal with BP for assets in the northern North Sea and west of Shetland.

The exact contract value was not disclosed, but it is worth somewhere between £110-£225 million.

Subsea 7 will provide subsea construction, inspection, repair and maintenance services.

Work is already underway, with the contract covering all BP assets in the North Sea and west of Shetland.

BP’s west of Shetland assets include the Clair and Clair Ridge platforms, and the Glen Lyon and Foinaven FPSOs.

Subsea firm I-Tech Services, a Subsea 7 subsidiary company, will also provide support ROV vessels for inspection, survey, intervention, light subsea construction and emergency response services.

The project will be run out of I-Tech services office in Aberdeen.

Steve Wisely, I-Tech Services’ senior vice president, said: “We have over 20 years’ experience working with BP both in the North Sea and in particular the challenging environmental conditions offshore West of Shetland.

“This award, which is a renewal of our existing contract, acknowledges the strength and depth of our Life of Field capabilities, technology expertise and proven track record in the successful delivery of safe, efficient and reliable operations.”

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