Reach Subsea Extends Olympic Taurus Charter and Orders Two ROVs
Norwegian company Reach Subsea has extended the charter for the Olympic Taurus subsea vessel and ordered two new Constructor-type remotely operated vehicles (ROVs) from Kystdesign.Back in February, Reach Subsea announced a 100-day project charter for the subsea vessel Olympic Taurus, with extension options for 2+1+1 years.The company has now extended the charter for an additional two years and retain options for another 1+1 years."With a solid backlog and substantial tender pipeline for the coming periods, we are enhancing our capacity to capitalize on the rapidly advancing global subsea market.
Eidesvik-Agalas JV to Build New IMR Vessel on Charter with Reach Subsea
Eidesvik Offshore, together with Norwegian shipowner Agalas, has entered into an agreement to build a new construction support vessel (CSV), which is on charter with Reach Subsea.The newbuild will be equipped to perform inspection, maintenance and repair (IMR) work for subsea and offshore wind markets.Equipped with methanol engines and a battery hybrid system, the vessel will be owned by an entity to be named Eidesvik Agalas AS, where Eidesvik will be the majority owner with 50.1%.The remaining shares will be owned by Northern Norway shipowners Agalas.Planned delivery for the vessel is early 2026
Reach Subsea Charters Two Vessels Amid Increasing Demand
Norwegian company Reach Subsea has made charter agreements for two vessels to meet the increasing demand in the subsea services market.Reach Subsea has expanded its capacity by securing charters for both the Northern Maria and Olympic Taurus vessels.For the Northern Maria, the charter arrangement includes 3 years firm period and 6+6 months options.Northern Maria is a survey vessel with a 20 tons crane and sufficient accommodation and deck capacity, suitable to meet Reach Subsea’s client’s requirements within both the renewable energy and oil and gas sectors.“It is an important step
Reach Subsea Expands Orderbook with Over $50M in New Contracts
Norwegian subsea services company Reach Subsea has secured multiple new contracts, contract extensions and call-offs within the scope of its existing frame agreements in the North Sea and the Americas region.Reach Subsea said it secured contracts with an estimated total value of above $54 million (NOK 570 million).The majority of these contracts are starting in the first quarter 2024 and cover all parts of Reach Subsea’s fleet and services, the company informed.“We are pleased to report success in securing work across various markets and regions. The growing demand for our subsea services
Reach Subsea, OceanPact Awarded Work for Equinor in Brazil
Norwegian subsea services firm Reach Subsea, together with its Brazilian partner OceanPact, received a notice of contract award from Equinor for combined light construction, IMR (inspection, maintenance, and repair) and survey services on the Peregrino field offshore Brazil.The specific project has a duration of approximately 45 vessel days and is assigned as part of a contract that is valid for one year, implying additional scope of work being added. It will be performed by the subsea vessel Havila Subsea following the ongoing project in Brazil, with start in December this year. The project has high
Reach Subsea Buys Australian Marine Survey Firm
Norwegian subsea services company Reach Subsea has completed the acquisition of the Australian marine survey company Guardian Geomatics Pty. Reach Subsea had announced the proposed acquisition of Guardian Geomatics in October.It said at the time that the acquisition would accelerate its strategic global expansion agenda and open new doors for it in Australia and the Asia-Pacific markets. It said that Guardian Geomatics’ existing survey business was highly attractive, and as part of Reach Subsea, the company would serve as an enabler for launching its unmanned Reach Remote platform in
Reach Subsea Partners with Agalas for New IMR/Survey Vessel
Reach Subsea, a Norwegian subsea services company, has signed a long-term charter contract with Agalas for a modern IMR/Survey vessel to be built in Turkey.According to Reach Subsea, to be hired on three or five-year charter, will has a low emission, smart lifting arrangement and a state of the art equipment package that can be adapted to several market segments, with delivery early 2026.Reach Subsea CEO Jostein Alendal said:"The market for subsea vessels is expected to remain tight for the foreseeable future, and with the innovative Agalas low-emission vessel, we will to an even larger degree be
Reach Subsea Wins Work with 'Major European Energy Firm'
Norway-based subsea services company Reach Subsea said Thursday it had received a notice of contract award, subject to successful contract negotiation, from an unnamed "major European energy provider."The potential contract has a duration of approximately 75 vessel days and is scheduled for execution in the fourth quarter of 2023.The project will utilize one of Reach Subsea’s DP2 subsea vessels and the onboard high-speed survey ROV, the Surveyor Interceptor.Jostein Alendal, CEO of Reach Subsea said: "We are delighted to receive this significant contract, which represents a great
Reach Subsea to Provide Full Range of Services for Equinor under 3-year Agreement
Norwegian subsea services firm Reach Subsea said Monday it had signed three-year frame agreement with Equinor for work on the Norwegian continental shelf and internationally to 2026. The agreement covers the full spectrum of Reach Subsea services, the company said. Reach Subsea CEO Jostein Alendal said the frame agreement will be an excellent driver for the growth and utilization of Reach Subsea’s modern and expanded fleet of conventional vessels as well as the unmanned Reach Remote fleet, with the two first vessels expected to be launched in 2023."I would also highlight
February 2024
