FMC Technologies, Inc. announced today that it has signed a renewed Framework Agreement with Statoil (NYSE: STO) to provide subsea operations services for its developments on the Norwegian Continental Shelf. The duration of the agreement is five years with options for three additional three-year extensions.
Under the terms of the agreement, previously announced by Statoil, FMC Technologies will continue to provide installation services, asset management, equipment intervention and well access services.
"FMC Technologies has supported Statoil's subsea development efforts for more than two decades," said Tore Halvorsen, FMC Technologies' Senior Vice President, Subsea Technologies. "This agreement will provide continued life-of-field support for many of Statoil's developments."