ModuSpec announces frame agreement extension with bp

ModuSpec is extremely pleased to announce the extension of a multi-million-dollar global frame agreement for BOP inspection services with upstream operator, bp.

ModuSpec, a Vysus Group company, has been delivering BOP inspection services support to bp for more than eight years. With this five-year extension, which could be worth circa $10 million per year, ModuSpec could be called upon to provide support across bp’s global operations.

Johnny Benoit, SVP ModuSpec, said: “To continue our trusted relationship with bp is extremely pleasing and is testament to the value that they place in our ability to support their operations. With rig market activity and demand for drilling continuing to rise globally, it’s as important as ever to our clients that we are there to support with our technical expertise, backed up by the knowledge and experience a long-term relationship brings to the table.

“This contract award demonstrates ModuSpec’s ability to support bp with their specific requirements across their suite of global operations. From deepwater subsea BOP compliance and verification support across all assets operating in the USGOM, to the reactivation of three semi-submersible rigs in the North Sea and Caspian Sea, our teams have already been extremely engaged with bp in 2023 alone, and we look forward to the future as we continue to develop the relationship with the introduction of new services such as Argus, our new BOP real-time monitoring system.”

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