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The company reports today that it is extending an existing framework agreement with seven oil companies in the North Sea.
The transaction should be worth between 50 and 150 million dollars. This represents between NOK 429 and NOK 1,287 million at today's exchange rate.
The companies that will receive Subsea 7 services are Chevron North Sea Limited, Dana Petroleum (E & P) Limited, Hess Denmark APS and Nexen Petroleum UK. Limited, Repsol Sinopec UK Energy Limited, Shell UK Limited and TAQA Bratani Limited.
"Under the Framework Agreement, Subsea 7 will continue to provide dive support services throughout the year," the report says.
The company will also provide project management and engineering services for up to 50 offshore installations in the North Sea. The work will be directed from the Subsea 7 office in Aberdeen.
The new agreement stems from a framework agreement signed in 2009, renewed in 2016.
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