The contract, due for execution between Q3 and Q4 of 2016, will involve deploying diving support vessel Bibby Polaris and construction support vessel Olympic Ares.
The agreement is an unusual vote of confidence in the North Sea market in the present climate, where the low oil price has crushed profitability and pushed numerous operators out of business.
The vessels will carry out valve operations, spool installation, umbilical pull in and lay, trenching and stabilisation through installation of concrete mattresses 150 km off the coast of Lincolnshire, in water depths of 21 m and 48 m.
“This is a significant win for Bibby Offshore - not only is it a strong representation of our technical engineering capabilities, but it further underlines our commitment to the North Sea market,” said Howard Woodcock, chief executive at Bibby Offshore. “Continued collaboration with this important and valued client reinforces confidence in our innovative solutions and operational abilities.
“In an increasingly competitive market, our skillset helps our clients conduct operations in a safe, efficient and cost-effective manner.”