Reach Subsea has been awarded a frame agreement by Statoil for the inspection, maintenance and repair (IMR) services in the North Sea.
The frame agreement has a duration of five years, and will start in 2019.
Commercial terms under the agreement are confidential between the parties, Reach said.
The frame agreement is call-off based, which means that Statoil can award contracts for IMR services in the North Sea on an as needed basis.
Jostein Alendal, Reach Subsea CEO said: “We are proud to be awarded the IMR frame agreement with Statoil, which is of significant strategic importance and improves visibility for our service offerings for the next five years. This award is a testament to the track record we have built over the past few years, combining a relentless focus on the highest quality in our operations, and strict cost discipline.”