Reach Subsea Secures $47.6M in New Contracts Backlog
(Credit: Reach Subsea)
Norwegian subsea services firm Reach Subsea has strengthened its order backlog with $47.6 million worth of new contacts.
Reach Subsea has increased its order backlog after securing multiple new contracts, contract extensions and call-offs within the scope of its existing contracts and frame agreements.
According to the company, it recently secured contracts with an estimated total value of $47.6 million (NOK 500 million) for 2024 and 2025.
“We are capitalizing on strong market demand and are pleased to report the continued strengthening of our order backlog. It also serves as a positive market indication that our project schedule in the ocean sector extends throughout 2025, offering greater long-term visibility,” said Jostein Alendal, CEO of Reach Subsea.
![“Our province has been shaped by the Atlantic Ocean. It can be extremely cold, extremely unforgiving. If it works here, it will work anywhere. The technology we [develop and] use here can be adapted to anywhere else in the world. We are adaptive, we're nimble, we're problem solvers. And at the end of the day, we are collaborative."
Minister Andrew Parsons, Industry, Energy & Technology, Newfoundland & Labrador, Canada. Photo courtesy the office of Minister Andrew Parsons](https://images.marinetechnologynews.com/images/maritime/w100h100padcanvas/province-been-shaped-153427.jpg)
August 2024
