BP hands Subsea 7 $300m contract extension:
Offshore contractor Subsea 7 has received a contract extension from UK supermajor BP covering operations at the Foinaven and Schiehallion fields in the UK North Sea.
The contract covers subsea construction, inspection, repair and maintenance services for the fields, which lie west of the Shetland Islands.
The contract extension runs from 2013 until 2017 and is valued at about $300 million.
Subsea 7 said, under the terms of the contract, its Subsea Viking multi-purpose support vessel would provide BP’s operations with support services in the Foinaven and Schiehallion fields.
The Foinaven field lies on Blocks 204/19 and 204/24a in a water depth of about 450 metres and was the first UK deep-water oilfield to be developed in the Atlantic margin.
The Schiehallion field lies on Blocks 204 and 205, about 161 kilometres west of the Shetland Islands, in a water depths ranging between 350 and 450 metres.
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