Multiple Contracts for Reach Subsea, MMT

Friday, April 24, 2020
Image Credit: Reach Subsea

Reach Subsea and MMT have together been awarded several contracts and call-offs under frame agreements for 2020 execution, representing about 450 project days, Reach said Friday.

According to the Oslo-listed company, the projects involve inspection, survey, and construction support work across Europe and the Americas, for major operators in both the oil & gas and renewables sectors. The company did not say who the clients were nor did it disclose the financial details.

"With the addition of these contracts, our schedule indicates good utilization during the summer season. Reach now have approximately 750 project days (equivalent to about 1,300 ROV days) for 2020 execution, of which 160 (254 ROV days) were executed in the first quarter, and about 250 project days (400 ROV days) for 2021 execution," Reach Subsea said.

 As of now, the projects we are involved in are going ahead as planned, but we are aware that in these extraordinary times things can
change.

Jostein Alendal, CEO of Reach Subsea, said: "We are pleased to have secured contracts in a challenging time and we see that our good performance is working as a hedge to market shocks. We have taken serious measures to ensure the safety of our personnel during the COVID-19 pandemic, which has been very successful so far".  

P-O Sverlinger, CEO MMT added: "It is also encouraging to see that our clients are starting to recognize the benefits of our high-speed survey ROVs and that some 300 of the recently awarded project days are related to inspection and seabed mapping campaign projects primarily in the renewables sector."

Categories: Vessels Offshore Energy Subsea Activity Europe ROV Americas

Related Stories

Sonardyne to Deliver Seabed Monitoring Kit for North Sea CCS Project

Sonardyne to Deliver Seabed Monitoring Kit for North Sea CCS Project

Gazelle Secures Multi-Million Funding for Floating Wind Demo

Gazelle Secures Multi-Million Funding for Floating Wind Demo

Island Frontier MSV Wraps Up West Africa Campaign for Oceaneering

Island Frontier MSV Wraps Up West Africa Campaign for Oceaneering

Current News

Wärtsilä to Supply Regasification Module for Egypt-Bound FSRU Conversion

Sonardyne to Deliver Seabed Monitoring Kit for North Sea CCS Project

Kongsberg Maritime to Supply Equipment for Sea1 Offshore’s OCVs

BMT Teams Up with McDermott for Woodfibre LNG Monitoring System

Subscribe for OE Digital E‑News

Offshore Engineer Magazine