Oslo-listed Subsea 7 has secured an extension of its existing frame agreement with Aker BP for four years to the end of 2028. The news follows Aker Solutions’ frame deal extension with Aker BP as part of the Subsea Alliance that enables operator and contractors to work as one integrated team toward cost-effective solutions.
Subsea 7’s agreement covers the provision of engineering, fabrication and installation activities for subsea umbilical, risers and flowlines 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 by Subsea 7 when each new project is sanctioned, the company 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,” said Monica Bjørkmann, senior vice president for Subsea 7 Norway.
