Subsea 7 wins $160 million BP contract extension

5/1/2014

Subsea 7 wins $160 million BP contract extension

LONDON -- Subsea 7 S.A. has been awarded a three-year, $160-million contract extension by BP Exploration & Production Inc. for light subsea construction, inspection, repair and maintenance services in the U.S. Gulf of Mexico.

The contract will run from the second quarter 2014 to the third quarter 2017. The scope covers the provision of two vessels, including a dedicated vessel on a full-time basis, associated project management and engineering support, ROV-based inspection and intervention, and light construction work.

One of the vessels to be utilised in the contract is a new-build offshore subsea construction vessel while the other is a light construction vessel. Both vessels will be chartered on a longterm basis.

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