BP Extends Subsea 7’s Contract for Two UK Fields

Subsea 7 S.A. today announces that BP has extended its contract for subsea construction, inspection, repair and maintenance services for the Foinaven and Schiehallion fields located west of the Shetland Islands. The contract extension is valued at approximately US$300m and will run from 2013 until 2017.

Under the terms of this contract, the multi-purpose support vessel, Subsea Viking, will provide BP‟s operations with support services in the Foinaven and Schiehallion fields.

Steph McNeill, Vice President UK and Canada, said: “Subsea 7 has successfully supported BP‟s operations in the very challenging environment west of Shetland since 1998 and today‟s announcement will see that relationship continue for at least a further five years.”

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Press Release, October 12, 2012; Image: Subsea 7