Subsea 7 S.A. has been awarded a two-year extension to two Underwater Services Contracts (USCs) by Shell Upstream International Europe, worth approximately US$240 million.
Under these Life of Field contract extensions for Diving Support Vessel (DSV) and Remotely Operated Vehicle Support Vessel (ROVSV) services, both of which will commence in 2016, Subsea 7 will continue to provide subsea construction, inspection, repair, maintenance and decommissioning services to Shell's UK offshore fields and facilities. The DSV contract will be delivered on a 24 hour, year-round basis through to the third quarter 2018.
The ROVSV contract will cover a minimum of 100 vessel days per year and continue through to the second quarter of 2018. Subsea 7's North Sea fleet, including the Seven Atlantic for the DSV work scope, will undertake the work under the USCs. Associated project management and engineering support for the USCs will be executed from Shell’s and Subsea 7's offices in Aberdeen.