Statoil extends frame deal, awards contract to MMT, Reach JV
- Business & Finance
Swedish subsea inspection specialist MMT, with its partner Reach Subsea, has received good news in the form of a renewed and expanded frame agreement with the Norwegian oil giant Statoil.
MMT on Monday said the successful co-operation between Reach Subsea and MMT Sweden resulted in a new frame agreement covering both survey and light construction for the next three years.
The frame agreement is call-off based, which means that Statoil can award contracts for survey and light construction projects in the North Sea on an “as needed” basis.
As part of the frame agreement, MMT Sweden has in co-operation with Reach Subsea been awarded a contract with Statoil for survey and light construction work offshore Norway. The value of the contract is confidential. The work will be performed with the subsea vessel Havila Subsea from early February onwards and will include survey and light construction.
“The frame agreement and the associated awarded work is of great strategic importance for both MMT Sweden and Reach Subsea,” MMT said.
Jostein Alendal, CEO of Reach Subsea, said: “We are delighted and proud that Statoil has recognised the competitive service offering that MMT Sweden and Reach Subsea can provide in co-operation. Our common investment in developing the innovative Surveyor high speed ROV, as well as the track record we have built together utilizing the complementary skills of Reach Subsea and MMT Sweden, has played an instrumental role in positioning us for this frame agreement.