Reach Subsea sees ‘unprecedented level of visibility’

Norwegian subsea services provider Reach Subsea has been awarded several contracts and call-offs under frame agreements for 2020 execution, representing about 200 project days.

Illustration. Source: reach Subsea

The company said on Thursday that the projects involved both inspection, survey and light construction work across Europe and America, for major operators in both the oil & gas, energy infrastructure, and renewables sectors.

“Taken together with the approximately 200 project days we had already secured as we entered 2020, and our pipeline of tenders nearing decision, means that we have an unprecedented level of current year visibility when standing in February,” the company said.

Jostein Alendal, CEO of Reach, commented: “We are excited to see contracting activity at such a high level already in early February, which contributes well to our 2020 visibility.”

Alendal added: “Our pipeline of tenders nearing decision is also substantial, so we remain hopeful that the next couple of months will be equally exciting for us.”

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