Reach Subsea has been awarded a contract in the US Gulf for end of 2021 and 2022 execution, representing about 230 project days.
The project involves support of an Ocean Bottom Node campaign and will be performed by the Olympic Artemis spread.
Taken together with other recent smaller contract awards, this award provides another indication of improving visibility and fundamentals in our market. Reach now has approx. 1,150 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.
'We are pleased to have secured contracts in the Americas region, and to again be selected as the preferred supplier. The award within the OBN segment fits very well with our recent acquisition of Octio and is a market that we aim to leverage further in the years to come.' said Jostein Alendal, CEO of Reach Subsea.
Source: Reach Subsea
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