Reach Subsea books Olympic Subsea vessel for decommissioning gig

Norway’s Reach Subsea has secured a contract and vessel capacity to deliver a decommissioning scope in the North Sea for an undisclosed client.

Olympic Delta. Source: Olympic Subsea

The contract represents about 40 project days for execution in the first quarter of the year and will see the utilization of the vessel Olympic Delta.

Reach Subsea has an existing cooperation with Olympic Subsea for Olympic Delta, and the parties have agreed to extend the cooperation for the whole of 2023.

The companies will jointly market the vessel outside the already committed period this year.

The extended cooperation comprises an additional 150 days of firm work for the two ROVs currently mobilized on the vessel. Reach is contracted to provide this service to Olympic for the charter duration to a tier 1 oil and gas contractor.

“The market activity is high, and we are pleased to see that we are able secure contracts across a range of segments. Continuing the good cooperation with Olympic both on ROV services and joint marketing of vessels, shows that our common service offering has been well perceived by clients,” said Jostein Alendal, CEO of Reach Subsea.

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A few days ago, Reach Subsea entered into a charter contract and corresponding option arrangement with Olympic Subsea for another vessel.

Under the deal, the subsea support and construction vessel Olympic Triton will back Reach Subsea in the delivery of offshore wind-related services.