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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Work Contracts and Agreements: New Opportunities

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.

Work Contracts and Agreements: New Opportunities

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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A public school student single-handedly created a machine capable of treating water for up to 50 people using only solar energy. It was awarded third place at one of the most important science fairs in the world.

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