Shell Awards Maintenance Contract to Subsea 7

Shell has awarded a three-year fixed term contract to UK-based Subsea 7 BV's UK branch for the provision of routine underwater inspection for Shell operated sub sea infrastructure in the North Sea. The three year contract, with a further two one-year options, is worth in excess of $150 million ($50m per annum).

Subsea 7 will be the primary contractor responsible for the inspection, repair and maintenance of Shell's European operated sub sea oil and gas related infrastructure. The contract scope includes inspection, repair and maintenance of sub sea infrastructure together with pipeline inspection activities. The operations will involve air and saturation diving as well as remotely operated vehicle and survey services.

The annual volume of work to be completed under this contract is anticipated to be in the region of 350 to 450 vessel days within the territorial waters and continental shelves of the UK, Netherlands, Norway and Ireland.

The contract is the first major pan-European contract for Shell's new Exploration & Production organisation in Europe and one of the largest in the North Sea. A substantial part of Shell's oil and gas production in the Northern, Central and Southern UK sectors of the North Sea as well as the offshore sectors of Norway, The Netherlands and Ireland comes from sub sea wells.

The contract was awarded by Shell U.K. Limited on behalf of itself, Nederlandse Aardolie Maatschappij B.V., Norske Shell and Shell E&P Ireland Limited (Shell).

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Added to site on 21/05/04

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