Subsea 7 S.A. announced an extension of its frame agreement with Equinor ASA for the provision of subsea inspection, maintenance and repair (IMR) services on the Norwegian Continental Shelf. The contract extends the commitment of the Seven Viking vessel until the end of 2027, ensuring continued operations on the Norwegian operator’s oil and gas wells.
Strategic renewal for Equinor
Initially signed in 2018, the frame agreement has already been extended multiple times. The latest extension confirms Equinor’s intent to maintain operational cooperation with Subsea 7, particularly for IMR missions. The financial scope of this extension was not disclosed, but Subsea 7 categorises it as “sizeable”, corresponding to a value between USD50mn and USD150mn under the company’s financial classification.
The Seven Viking vessel, specifically designed for rapid intervention and IMR operations in deep waters, will continue to play a central role in monitoring and maintaining Equinor’s subsea infrastructure.
Technical coordination remains in Stavanger
Project management and engineering operations will remain coordinated from Subsea 7’s office in Stavanger. This geographic continuity aims to ensure logistical responsiveness and sustained technical operations in the field.
Erik Femsteinevik, Vice President of Subsea 7 Norway, stated that Equinor’s decision to extend the contract reflects their trust in the company’s operational capabilities.
