Norway’s Reach Subsea has secured a “larger” contract as well as several contract extensions that encompass projects in Trinidad and Tobago and Northern Europe.
According to Reach Subsea, the contracts are an indication of good development in terms of utilization of its resources for Q4 2022 and into Q1 2023.
“Reach Subsea is well positioned with a complete suite of services for a global subsea services market that continues to develop strongly,” said Jostein Alendal , CEO of Reach Subsea.
“Now, we are looking forward to serving our customers in Trinidad and Tobago again for the first time after the pandemic. The contract is a result of great collaboration and teamwork.”
At the beginning of September, Reach Subsea announced it had secured new contracts amounting to around €20 million in total, including an “important strategic” contract in Brazil.
The Norwegian company said that the contract in Brazil is the first result of a strategic partnership with a Brazilian offshore company.