Norway-headquartered Reach Subsea is set to begin work for Equinor offshore Brazil this month, using the subsea vessel Havila Subsea.
Reach Subsea has together with its Brazilian partner OceanPact received a notice of contract award from Equinor for combined light construction, inspection, maintenance, and repair (IMR) 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 Havila Subsea following the ongoing project in Brazil, with a start this month. Reach Subsea extended the contract for the vessel this September until December 31, 2024.
According to the Norwegian company, the project has high technical complexity and combines services provided by different divisions of the company.
“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,” Cleiver Moulin , MD Brazil at Reach Subsea.
With this contract award, along with several other recent contract wins in Europe and the U.S., Reach Subsea has secured contracts with an estimated total value of above NOK 265 million (around $24.3 million). The majority are starting in Q4 2023 and Q1 2024.
“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,” said Jostein Alendal , Reach Subsea’s CEO.
Speaking about other recent news coming from the company, Reach Subsea in November signed a three or five-year charter contract , including additional options, with Agalas for a low-emission IMR/survey vessel with a smart lifting arrangement and an equipment package that can be adapted to several market segments.
The new vessel, set to be constructed at the Sefine Shipyard in Turkey, will be tailored to Reach Subsea’s requirements, and specifications have been developed in collaboration with Agalas and designer NSK Ship Design.