Reach Subsea, a provider for ocean-based industries, has signed a conditional letter of offer and acceptance (LOA) for a significant project in West Africa (WAF), through which the company will be a sub-contractor to a major tier-one contractor
The assignment encompass support for installation and anchoring of an offshore unit, which implies a valuable broadening of Reach Subsea’s spectrum of services. Included in the scope are significant survey and positioning tasks to be undertaken by Reach Subsea subsidiary iSurvey. The project will be initiated towards late Q1 2023, and is expected to last well into Q2 2023.
'We experience a solid market for subsea services. This significant contract improves our order backlog considerably and is evidence of the strong value proposition of our complete and integrated offering - including survey and positioning services delivered by our new colleagues in iSurvey. It confirms our ability to successfully compete for a broad range of complex assignments across the globe,' said CEO of Reach Subsea Jostein Alendal.
Reach Subsea will charter a hybrid-powered AHC/offshore construction vessel, mobilised with a work class remotely operated vehicles (ROV) for the project. The project has been awarded based on a strategic cooperation with key stakeholders for delivering high quality engineering and vessel solutions to the floater installation market.