Statoil Expands Frame Agreement with MMT

Statoil has renewed and expanded MMT’s frame agreement. The cooperation between Reach Subsea and MMT Sweden has resulted in a new frame agreement covering both survey and light construction for the next three years. The frame agreement is call-off based, which means that Statoil can award contracts for survey and light construction projects in the North Sea on an as needed basis.
 
As part of the frame agreement, MMT Sweden has in cooperation with Reach Subsea been awarded a contract with Statoil (STO) for survey and light construction work offshore Norway. The value of the contract is confidential. The work will be performed with the subsea vessel Havila Subsea from early February onwards and will include survey and light construction.

The frame agreement and the associated awarded work is of great strategic importance for both MMT Sweden and Reach Subsea.

The two companies have worked jointly together since 2013 and have gradually increased the market share within the segment of survey and light construction with the aim of being a key supplier for the major clients in this segment.

MMT and Reach have in recent years made large investments in this segment, developing a professional and experienced personnel base and building a modern fleet of vessels and equipment in order to be prepared for this project.