Oslo-listed Subsea 7 has clinched a cable-lay contract for Shell.
An OSV will install pipelines for the Penguins redevelopment project 150 miles north-east of the Shetland Islands, it said.
Project management and engineering work will start immediately in Aberdeen.
Offshore activities are scheduled for 2020 and 2021.
Jonathan Tame, vice president for the UK and Canada, said: "Following the successful conclusion of a competitive design competition, we are pleased to have the opportunity to bring our extensive expertise to a project of this importance.
