France-based engineering major Technip was awarded a two-year extension within its Statoil frame contract for diving, pipeline repair, contingency and modification services.
The frame contract has been held by Technip since January 2007 and is now extended to the latest possible completion date of December 2014.
The yearly revenue under the contract is expected to be in the range of €50-80 million.
The contract is an exclusive agreement for all diving and diver assisted operations offshore for Statoil.
The deal represents an important milestone in an expanding diving market, the company said.
It covers management and execution of subsea marine operations within inspection, maintenance and repair and diving, such as planned maintenance, modifications and installation work, and contingency for pipeline and subsea equipment repair.
The operations are diver assisted or remotely operated.
The contract will be managed by Technip’s operating center in Stavanger, Norway.