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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 achieved great results by securing new contracts, extending existing contracts and receiving cancellations on current framework agreements in the North Sea and the Americas region. This strategy contributed to the increase in the company's order book.
Additionally, Reach Subsea has won contracts worth more than NOK 570 million (around US$55 million), mainly starting in the first quarter and involving all aspects of its fleet and services. With this, the company reinforces its presence in the markets, guaranteeing its participation in several large-scale projects.
‘We are pleased to report success in securing work across multiple markets and regions. The growing demand for our submarine services across all sectors is evident in our recent contracts. It is a positive indication that our busy schedule for subsea projects extends into the first quarter, providing a strong start to the year,” he said. Jostein Alendal, CEO of Reach Subsea.
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In terms of other recent news coming from the company, in December 2023, Reach Subsea and its Brazilian partner OceanPact received a notice of contract award of Equinor for combined light construction, maintenance and repair (IMR) and offshore research in Brazil.
A month earlier, the company signed a charter contract three or five years with Agalas for a low-emission IMR/research vessel with an intelligent lifting system and an equipment package that can adapt to multiple market segments.
New Employment Contracts and Framework Agreements
In terms of other recent news coming from the company, in December 2023, Reach Subsea and its Brazilian partner OceanPact received a notice of contract award from Equinor for combined light construction, maintenance and repair (IMR) and offshore research services in Brazil.
A month earlier, the company signed a three or five year charter contract with Agalas for a low-emission IMR/research vessel with an intelligent lifting system and an equipment package that can adapt to multiple market segments.
Source: © OFF Shore Energy
