New Contracts Drive Reach Subsea's Expansion in the North Sea and the Americas

New Contracts Drive Reach Subsea’s Expansion in the North Sea and the Americas

Written by Paulo Nogueira

Published on 22/01/2024 at 05:59

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Reach Subsea Expands Portfolio With New Contracts and Extensions, Including Cancellations Within Current Framework Agreements in the North Sea and the Americas.

Reach Subsea has achieved excellent results by securing new contracts, extending existing contracts, and receiving cancellations in current framework agreements in the North Sea and the Americas region. This strategy contributed to the increase of the company’s order book.

Furthermore, Reach Subsea closed contracts worth over NOK 570 million (about US$ 55 million), mainly starting in the first quarter and involving all aspects of its fleet and services. This reinforces the company’s presence in markets, ensuring its participation in various large-scale projects.

‘We are pleased to report success in securing work across various markets and regions. The increasing demand for our subsea services across all sectors is evident in our recent contracts. It is a positive indication that our packed schedule for subsea projects extends into the first quarter, providing a strong start to the year’, said Jostein Alendal, CEO of Reach Subsea.

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In terms of other recent news from the company, in December 2023, Reach Subsea and its Brazilian partner OceanPact received a contract award notice from Equinor for light construction, inspection, maintenance, and repair (IMR) services and offshore research in Brazil.

A month earlier, the company signed a charter contract for three or five years with Agalas for a low-emission IMR/research vessel with an intelligent hoisting system and a package of equipment that can adapt to various market segments.

New Work Contracts and Framework Agreements

In terms of other recent news from the company, in December 2023, Reach Subsea and its Brazilian partner OceanPact received a contract award notice from Equinor for light construction, inspection, maintenance, and repair (IMR) services and offshore research in Brazil.

A month earlier, the company signed a charter contract for three or five years with Agalas for a low-emission IMR/research vessel with an intelligent hoisting system and a package of equipment that can adapt to various market segments.

Source: © OFF Shore Energy

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New Contracts Drive Reach Subsea’s Expansion in the North Sea and the Americas

Reach Subsea Expands Portfolio With New Contracts and Extensions, Including Cancellations Within Current Framework Agreements in the North Sea and the Americas.

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New Work Contracts and Framework Agreements

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New Contracts Drive Reach Subsea’s Expansion in the North Sea and the Americas

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Cambodia has started digging a nearly 180-kilometer canal to connect the Mekong River directly to the sea and reduce its dependence on the ports of neighboring Vietnam.

Workers were opening a modern road in Dover when they found, 6 meters below the asphalt, a 3,500-year-old boat made of stitched oak and plant fibers.

China has put millions of electric cars on the roads, but now faces the side effect: more than 1 million tons of batteries are expected to go out of use per year by 2030, while the government expands tracking and combats illegal dismantling with environmental risks.

An Indonesian fisherman pulls a mysterious object from the sea and discovers that it is a Chinese underwater monitoring system, part of the so-called Underwater Great Wall that Beijing uses to track submarines and unmanned vehicles in strategic straits of the region.

Images from NASA’s Landsat 9 satellite have revealed reddish slopes in the far south of Chile, but this is not colored snow; rather, it is the southern beech forests of Patagonia, which take on shades of red and orange in the austral autumn.

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