Reach Subsea Nets 'Decent-sized' OBN Contract in Mediterranean Sea

Oslo-listed subsea services provider Reach Subsea has won a contract in the Mediterranean Sea for start-up early in Q2 2022, representing about 130 project days. 

The project, with an undisclosed client, involves the support of an Ocean Bottom Node campaign and will be performed by the Havila Subsea spread. Havila Subsea is a DP2 IMR and light construction subsea vessel on a charter with Reach Subsea since March 2017.

"Tender volume and contract visibility for the 2022 season is looking promising. Reach now has approximately 1,450 project days for 2022 and 2023 execution. These figures do not include options and expected call-off extensions under frame agreements, which from experience can constitute significant additional work," the company said.

“We are very pleased to have secured a decent-sized contract in the Mediterranean region, where we have focused on building up presence. Our ability to deliver quality ROV operations has been the key contributing factor in winning another OBN campaign. We also see great potential to sell Octio’s services in the Mediterranean, and are targeting specific projects in the region,” said Jostein Alendal, CEO of Reach Subsea.

Back in December 2021, Reach Subsea agreed to buy Octio, a provider of monitoring solutions for oil and gas producing fields and CO2 storage reservoirs, from Equinor Ventures.

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