Eidesvik Offshore, Reach Subsea JV Wraps Buy of Subsea IMR Vessel

©Eidesvik Offshore (File image)
©Eidesvik Offshore (File image)

Norwegian firms Eidesvik Offshore and Reach Subsea said Thursday they had completed the previously announced acquisition of the subsea inspection repair and maintenance vessel Viking Reach (ex-Edda Sun).

The 85,30 meters long vessel was built in 2009 and is a Subsea IMR vessel equipped to perform subsea survey activities and a wide variety of inspection, maintenance and repair work.

The Eidesvik Offshore-Reach Subsea JV paid $29 million for the vessel.

Going forward the vessel will be managed and operated by Eidesvik and the vessel will start a six-year time charter contract with Reach at the start of Q2 2023.

Earlier this week, Reach Subsea it had signed three-year frame agreement with Equinor for work on the Norwegian continental shelf and internationally to 2026, and it also announced the award of the first call-off under the frame agreement.

The first work will be a gravimetry survey campaign at four Equinor-operated gas fields in the North Sea, the Norwegian Sea, and the Barents Sea.

The work will include the utilization of the high-end technology from Reach Subsea’s monitoring group, formerly known as Octio, the company said.

The activities will be performed from the newly acquired ROV survey/light construction vessel Viking Reach, and the work will have a duration of approximately two months and will start in the second quarter of 2023.

The call-off includes options for additional work within the capacity of the frame agreement, and the vessel will be mobilized with one SROV Survey ROV plus one work class ROV and hull-mounted survey equipment for this purpose.

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