Subsea 7 announces the signing of a long-term partnership frame agreement with Premier Oil to provide concept engineering, FEED, SURF project execution and Life of Field operations, on a preferred supplier basis. The agreement also enables Subsea 7 access to participate in relevant Premier decommissioning scopes.

The agreement is applicable to the above-noted activities in the UK, Falkland Islands and Norway and has a term of five years plus options for extension.

It aims to provide Premier with enhanced opportunities to realise the full value from relevant subsea scopes of work. Through early engagement Subsea 7 will fully understand the operational challenges faced, and offer best-suited technical solutions with realistic cost evaluations to produce safe and predictable outcomes.

Subsea 7 has recently participated in Premier’s bidding processes in these geographies, and is supporting the execution of the Catcher development in the North Sea, which continues to progress on schedule and within budget.

Steve Wisely, Executive Vice President, Northern Hemisphere & Life of Field, said:
“The partnership with Premier Oil will enable delivery of safe, cost-effective and on time projects, through a working relationship based on early engagement, collaboration and strong alignment of objectives. We believe the partnership approach facilitates cost reduction through fit for purpose solutions and we look forward to delivering strong value to the Premier portfolio.”

About Subsea 7

Subsea 7 S.A. is a seabed-to-surface engineering, construction and services contractor to the offshore energy industry worldwide. We provide integrated services, and we plan, design and deliver complex projects in harsh and challenging environments.

About Premier Oil

Premier is currently producing around 60,000 boepd. The bulk of this production is generated from assets operated by Premier – Premier is experienced in operating producing assets with Balmoral in the UK North Sea, Natuna Sea Block A (Anoa and Gajah Baru) in Indonesia and Chim Sáo in Vietnam. We are also the operator of the bulk of our next generation projects.