Reach Subsea Expands Orderbook with Over $50M in New Contracts

(Credit: Reach Subsea)
(Credit: Reach Subsea)

Norwegian subsea services company Reach Subsea has secured multiple new contracts, contract extensions and call-offs within the scope of its existing frame agreements in the North Sea and the Americas region.

Reach Subsea said it secured contracts with an estimated total value of above $54 million (NOK 570 million).

The majority of these contracts are starting in the first quarter 2024 and cover all parts of Reach Subsea’s fleet and services, the company informed.

“We are pleased to report success in securing work across various markets and regions. The growing demand for our subsea services across all sectors is evident from our recent contracts. It is a positive indication that our busy schedule for subsea projects extends into first quarter, providing a strong start to this year,” said Jostein Alendal, CEO Reach Subsea.

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