Eidesvik and Reach Subsea complete purchase of 2009-built subsea vessel
The joint venture between Eidesvik Offshore and Reach Subsea has completed the acquisition of the subsea inspection, maintenance, and repair (IMR) vessel Viking Reach.
The purchase price for the vessel previously known as Edda Sun was $29 million.
Viking Reach is suited for survey and light construction projects and will be mobilized with one Supporter work-class remotely operated vehicle (WROV) and one Surveyor ROV.
The vessel will be managed and operated by Eidesvik. and will commence on a six-year time charter contract with Reach at the start of the second quarter of the year.
It was announced earlier this week that Viking Reach will be used to carry out work for Equinor.
Gitte Gard Talmo, CEO and President of Eidesvik, said: “We are very pleased to welcome Viking Reach to our fleet and look forward to a good collaboration with Reach.”
Reach Subsea announced the acquisition of the vessel in November 2022. With the establishment of the joint venture, the acquisition is fully financed.