Norwegian subsea services firm Reach Subsea, together with its Brazilian partner OceanPact, received a notice of contract award from Equinor for combined light construction, IMR (inspection, maintenance, and repair) and survey services on the Peregrino field offshore Brazil.
The specific project has a duration of approximately 45 vessel days and is assigned as part of a contract that is valid for one year, implying additional scope of work being added. It will be performed by the subsea vessel Havila Subsea following the ongoing project in Brazil, with start in December this year. The project has high technical complexity and combines services provided by different divisions of Reach Subsea.
“This an important contract for Reach Subsea, documenting both the excellent relationship with Equinor as a client and the breadth and high quality of Reach Subsea’s offering. We are proud to once again have been given the trust from a tier-one energy company to deliver high-end services,” said Jostein Alendal, CEO of Reach Subsea.
“Expansion in the growing Brazilian market is of high importance and implies a significant potential for Reach Subsea. The Equinor contract is a piece of firm evidence of our commitment and success,” said Cleiver Moulin, Managing Director of Reach Subsea Brazil.
With this contract award, along with several other recent contract wins in Europe and U.S., Reach Subsea reports it has secured contracts with an estimated total value of above NOK 265 million. The majority of these contracts are starting in Q4 2023 and Q1 2024.
Jostein Alendal, CEO of Reach Subsea, said, "We are witnessing a consistent and robust demand for our services within the ocean sector. These contracts bolster our existing order backlog and serve as a confirmation to the compelling value proposition of our comprehensive and integrated offerings. They also underscore our ability to effectively compete for a diverse range of assignments on a global scale.”