Reach Subsea has increased its order backlog by securing new contracts, extending existing ones, and receiving call-offs within current frame agreements in the North Sea and the Americas region.
Reach Subsea has landed contracts worth more than NOK 570 million (around $55 million), mainly starting in Q1 and involving all aspects of its fleet and services.
“We are pleased to report success in securing work across various markets and regions. The growing demand for our subsea services across all sectors is evident from our recent contracts. It is a positive indication that our busy schedule for subsea projects extends into Q1, providing a strong start to this year, ” said Jostein Alendal , CEO of Reach Subsea.
In terms of other recent news coming from the company, in December 2023, Reach Subsea and its Brazilian partner OceanPact received a notice of contract award from Equinor for combined light construction, maintenance, and repair (IMR) and survey services offshore Brazil.
A month earlier, the company signed a three or five-year charter contract with Agalas for a low-emission IMR/survey vessel with a smart lifting arrangement, and an equipment package that can adapt to numerous market segments.