Subsea 7, Premier Oil Ink Partnership Frame Agreement
Subsea 7 signed a long-term partnership frame agreement with Premier Oil to provide concept engineering, FEED, SURF project execution and Life of Field operations, on a preferred supplier basis.
The agreement also enables Subsea 7 access to participate in relevant Premier decommissioning scopes.
The company said that the agreement is applicable to the above-noted activities in the UK, Falkland Islands and Norway and has a term of five years plus options for extension.
Subsea 7 has recently participated in Premier’s bidding processes in these geographies, and is supporting the execution of the Catcher development in the North Sea, which continues to progress on schedule and within budget.
Steve Wisely, Executive Vice President, Northern Hemisphere & Life of Field, said: “The partnership with Premier Oil will enable delivery of safe, cost-effective and on time projects, through a working relationship based on early engagement, collaboration and strong alignment of objectives. We believe the partnership approach facilitates cost reduction through fit for purpose solutions and we look forward to delivering strong value to the Premier portfolio.”