Deep Sea Mooring (DSM) has secured a contract to provide a range of mooring services for Repsol's drilling operations on the Norwegian Continental Shelf.
Under the contract, DSM will provide marine engineering services and deliver the mooring equipment.
The deal also requires DSM to assist Repsol in offshore operations, including both pre-lay and rig move.
The framework agreement, which starts immediately, will last for four years with additional options.
DSM will manage the contract from its headquarters near Bergen, Norway.
DSM CEO Åge Straume said: "Winning this contract further proves that major energy companies appreciate our experience, robust technology and competence in delivering complete mooring systems for the harsh environment of the North Sea.
"It's always exciting to showcase our expertise with a new client and we look forward to developing a solid and long-term partnership with Repsol."
Norway is a strategic area for both Repsol and the industry as vast volumes of hydrocarbons are expected to be identified in the country.
Repsol Exploration Norge has increased its exploration efforts in Norway since 2009 to secure assets. The company has increased its participation rights to a total of 18 production licenses in the North Sea, Norwegian Sea, and Barents Sea areas of the Norwegian Continental Shelf.
Repsol operates six of the 18 licenses and has, this year, secured three licenses from the APA round 2013. [In 2003, the Norwegian Government introduced the annual system of Awards in Predefined Areas (APA) in mature parts of the Norwegian continental shelf (NCS). This system replaced the annual North Sea Awards.]
Deep Sea Mooring was established in 2008 by Odfjell Drilling, and acquired in April 2013 by HiTecVision AS, a private equity investment firm headquartered in Stavanger.
Related OE news:
47 apply in latest Norwegian license round, 11 September 2014
Repsol enters Ivory prospect, 22 August 2014
Record round in Norway, 22 January 2014
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