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IKM Subsea Enters into Frame Agreement with Statoil

Source: www.gulfoilandgas.com 4/10/2012, Location: Europe

IKM Subsea has secured a frame agreement with Statoil for ROV services. The Frame agreement has an initial duration of 5 years, with an additional 3 of 5 year options. The award of this frame agreement to IKM Subsea is a substantial and important step towards continued and further growth. The company’s ambition is to grow towards becoming one of the big players on the ROV operators market in the North Sea Basin.

The IKM Group has since 2009 invested 500 million NOK into IKM Subsea. We see this award as a vote of confidence from Statoil and this shows how far the company has developed over the last three years says Managing Director Ben Pollard. The frame agreement encompasses ROV services from rigs and vessels in the North Sea Basin.

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