Reach Subsea Wins More Work

Reach Subsea said it has been awarded a letter of intent from an undisclosed European contractor.

The project is scheduled to begin in the second quarter of 2017 and is said to have an estimated duration of four months.

A fleet expansion will be necessary to meet the requirements in the contract, the Oslo-listed firm said on Monday.

The project will be executed together with the company’s partner marine survey specialist, MMT Sweden AB.