Search results for: reach-subsea

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  • 3 April 2018
    Business & Finance

    Norwegian subsea services provider Reach Subsea has been awarded contract for three vessels for operations in the North Sea. 

  • 24 April 2020
    Project & Tenders

    Reach Subsea and MMT have won several contracts and call-offs under frame agreements for 2020 execution. The contracts represent about 450 project days. The projects involve inspection, survey and construction support across Europe and the Americas, in the oil & gas and renewables sectors. With the addition of these contracts, our schedule indicates good utilization […]

  • 17 November 2015

    Reach Subsea ASA, a provider of IMR, ROV, survey construction, support and decomissioning services, is considering redundancies and layups of two vessels, Edda Fonn and Stril Explorer, in order to reduce costs.  The rates are still low in a weak market with oversupply of tonnage in most segments, Reach said in its 3Q 2015 report on Tuesday. To mitigate […]

  • 13 February 2020
    Business & Finance

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

  • 15 January 2018
    Business & Finance

    Good news for MMT and Reach Subsea

  • 21 April 2017
    Business & Finance, Equipment

    Norwegian subsea services provider Reach Subsea has entered into a contract for the IMR, survey and construction vessel Havila Subsea.  In an update on Friday, Reach said the contract obtained for the Havila Subsea vessel will start in the third quarter and it will cover 60 days, plus options. Earlier this year, Reach entered into a contract […]

  • 4 August 2017
    Business & Finance

    Following a letter of intent in June, Reach Subsea has now been awarded a contract from Allseas for a project with estimated duration of four months. Reach said on Friday that the contract will start in August. Duration of the firm scope of the contract is approximately four months including transit to Turkey. Back in June, […]

  • 19 May 2016
    Business & Finance

    Norwegian oil services company Aibel and subsea services provider Reach Subsea have agreed to enter into a formal cooperation agreement for a range of projects.  According to Reach Subsea’s Oslo Stock Exchange filing on Thursday, the pair will cooperate for projects within subsea oil and gas, renewables, ship and rig repairs and decommissioning of existing platforms/subsea […]

  • 13 February 2020
    Business & Finance, Operations & Maintenance, Project & Tenders

    Norwegian contractor Reach Subsea said it has been awarded several contracts and call-offs under frame agreements for 2020 execution, representing about 200 project days. The projects involve both inspection, survey and light construction work across Europe and America, for operators in the oil & gas, energy infrastructure, and renewables sectors. “We are excited to see […]

  • 15 June 2017
    Business & Finance

    Norwegian subsea services provider Reach Subsea has been awarded a letter of intent from an undisclosed European contractor for a four-month project. Reach Subsea said that the project, for what the company described as “first class European contractor,” would begin in the second quarter 2017. According to the company, a fleet expansion will be necessary […]

  • 27 August 2019
    Business & Finance, Operations & Maintenance

    Norwegian contractor booked profit of NOK 4 million on revenues of NOK 181 million, versus profit of NOK 5 million, on revenues of NOK 191 million in the year-ago quarter.

  • 25 November 2014
    Business & Finance, Operations & Maintenance

    Norwegian subsea operator, Reach Subsea has generated revenues of NOK 101.8 million, and a net profit of NOK 7.5 million for the third quarter 2014. These results compare with revenues of NOK 35.5 million in Q3 2013 and net profit of NOK 2.9 million same period last year. The increase in the third quarter was […]

  • 31 August 2016
    Business & Finance, Operations & Maintenance, Project & Tenders

    Norwegian contractor Reach Subsea has booked lower profit as it saw revenues decline close to 60 percent during the second quarter of 2016. For the quarter, Reach Subsea generated net profit of NOK 3.3 million, or NOK 0.04 per share, on revenue of NOK 89.5 million, versus net profit of NOK 9.1 million, or NOK 0.10 […]

  • 6 May 2019
    Business & Finance, Operations & Maintenance, Project & Tenders

    Norwegian contractor Reach Subsea said it has recently been awarded subsea IMR and survey and inspection contracts for the 2019 summer season. According to the company, the combined firm value is approximately NOK 40 million ($4.6 million). The awarded contracts are a mixture of two call-offs under Reach’s frame agreements and a larger contract won […]

  • 19 February 2019
    Business & Finance, Operations & Maintenance

    Reach Subsea has reduced its quarterly deficit for the period ended December 31, 2018, as revenues hiked some 70 percent on increased activity against the same quarter last year. For the fourth quarter 2018, the Norwegian contractor booked loss of NOK 6.3 million on revenues of NOK 191 million, versus net loss of NOK 10 […]

  • 23 August 2018
    Business & Finance, Operations & Maintenance

    Reach Subsea has bounced back to quarterly profit for the period ended June 30, 2018, as revenues hiked on increased activity against the same quarter last year. For the second quarter 2018, the Norwegian contractor booked profit of NOK 4.8 million on revenues of NOK 191 million, versus net loss of NOK 10.8 million, on […]

  • 9 April 2019
    Business & Finance, Operations & Maintenance, Project & Tenders

    Norwegian contractor Reach Subsea said it has recently been awarded subsea survey and inspection contracts for the 2019 summer season. The contracts have a combined firm value of approximately NOK 70 million (approximately $8.1 million). The Oslo-listed firm added that these contracts also contain optional periods, which, if called upon, would increase the firm contract […]

  • 29 August 2017
    Business & Finance, Operations & Maintenance

    Norwegian contractor Reach Subsea has slipped into red in the quarter ended June 30, 2017 as it saw cost increased and start of some projects pushed to Q3 and Q4. The Oslo-listed company reported second-quarter EBITDA of NOK 4.4 million (NOK 12.6 million in Q2 2016). EBITDA for the first half of 2017 was NOK […]

  • 2 December 2019
    Business & Finance, Operations & Maintenance, Project & Tenders

    Norwegian contractor Reach Subsea has seen its quarterly profit cut in half against last year’s comparable period on lower activity. For the third quarter 2019, Reach booked profit of NOK 4 million on revenues of NOK 154 million, versus profit of NOK 8 million, on revenues of NOK 179 million in the year-ago quarter. To […]

  • 28 May 2019
    Business & Finance, Operations & Maintenance

    Reach Subsea has widened its quarterly deficit for the period ended March 31, 2019 but still managed to stay close to prior-year comparable period despite noticeable revenue drop. For the first quarter 2019, the Norwegian contractor booked comprehensive loss of NOK 19.7 million on revenues of NOK 67 million, versus net loss of NOK 18.6 […]

  • 23 February 2016
    Business & Finance, Operations & Maintenance

    Norwegian contractor Reach Subsea managed to remain in black but still has booked a decrease in profit in the fourth quarter 2015, despite higher revenues backed by increased activity levels. In the fourth quarter 2015, Reach had four vessels in operation, opposed to one less same time last year as well as all six WROV […]

  • 16 February 2016
    Equipment, Operations & Maintenance, Project & Tenders

    Reach Subsea has entered into contract extensions with Eidesvik Offshore, the Oslo-listed company said on Tuesday. As a part of the 3-year cooperation agreement, entered into with Eidesvik Offshore in October 2014, Reach Subsea provides ROV and subsea services onboard the Viking Neptun also for the new contracts with Technip. “We are proud to be […]