ENGINEERING and construction company Subsea 7 announced a multimillion-pound deal yesterday with the UK-based arm of Abu Dhabi national energy company TAQA.
Subsea 7 has been awarded a one-year inspection, repair and maintenance service agreement.
It is to provide project management, engineering, dive support and remote-intervention services to assist with TAQA’s newly acquired North Sea assets.
Robin Davies, Subsea 7’s North Sea vice-president, said: “The award of another significant subsea service agreement with a leading oil and gas operator further consolidates Subsea 7’s position as the subsea partner of choice.
“We look forward to building positive and rewarding relationships with TAQA, especially in what is an exciting time for them as they reach another important milestone on their journey in the North Sea oil and gas industry.”
The TAQA contract will not lead to any new jobs at Subsea 7 in Aberdeen, however.
TAQA completed its £420million acquisition of interests in seven oil fields from Shell UK and Esso Exploration and Production (UK) at the start of this month.
The deal, signed in July, includes 100% and operatorship of the Tern, Kestrel, Eider, Cormorant North, South Cormorant and Pelican fields.
It also includes a 26.73% stake in the Hudson field in addition to a 16% interest in the Brent pipeline system, which exports oil from 13 fields to Sullom Voe, in Shetland, and a 24% interest in the Sullom Voe oil terminal.
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