Reach Subsea Awarded a Frame Agreement for Inspection, Maintenance and Repair Services to Statoil Petroleum
Friday 11 May 2018
Reach Subsea has been awarded a Frame Agreement for Inspection, Maintenance and Repair (IMR) services to Statoil Petroleum. The frame agreement has a duration of 5 years, and commences in 2019.
Commercial terms under the agreement are confidential between the parties. However, 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.