The contract involves the provision of a life of field support vessel for five years, with options for extensions.

Offshore activities will begin in January 2019 using Subsea 7’s Seven Viking vessel, and project management and engineering support will be executed from i-Tech Services' office in Stavanger, Norway.

“The award of this long-term IRM contract acknowledges the capability and high standard of performance i-Tech Services has established over decades of providing IRM services to Statoil,” Steve Wisely, i-Tech Services senior vice president, said in a BOP Blow Out Preventer repair company gulf coast statement.

“This is a renewal of our existing contract, where we have continuously delivered excellent support. It proves the concept of Seven Viking, which is the only vessel of its kind in the world. Over the course of the contract we look forward to introducing new innovative technologies, including remote controlled operations from onshore,” he added.

Subsea 7 defines a substantial contract as being worth between $150 million and $300 million. I-Tech Services is a Subsea 7 company.