Contracts

摘要

Subsea 7 has confirmed that the first call-off in its new ultra-deepwater block 31 framework agreement with BP Angola is for project management, engineering and installation services associated with the subsea infrastructure of the recently sanctioned PSVM -Plutao, Saturno, Venus and Marte - development. The contract value is estimated at $460 million and the installation work is expected to occupy Subsea 7's newbuild Seven Seas (see feature, page 75), for around 400 vessel days. The framework agreement covers up to three more potential block 31 developments, each subject to individual project sanction.