The frame agreement is initially for one year; however, BP has the right to extend the agreement for an additional four year period. During the term of the agreement, Nexans could deliver more than 200 kilometers of umbilical products to BP.
“This new frame agreement with BP Exploration and Production Inc. secures our position as a key strategic supplier of umbilicals for the Gulf of Mexico”, said Yvon Raak, Senior Corporate Executive Vice President. “Nexans has demonstrated its outstanding project execution capability, not only in solving technical challenges but also in ensuring on-time delivery. With this new agreement, we have also demonstrated that we can provide a cost effective solution to the Gulf of Mexico.”
The umbilicals for the Gulf of Mexico will be designed and manufactured at Nexans’ specialized facility in Halden, Norway.
