Reach Subsea ASA has signed a 2 + 1‑year contract covering IMR and light construction services offshore at the Black Sea, following the previously announced Letter of Intent.
Reach Subsea ASA has entered into the contract with an undisclosed party (referred to as Charterer here within) that is providing provision of ROV-based subsea operations, construction support, and field services to a reputable end client in the region. The agreement establishes a strategic partnership and collaboration between Reach Subsea ASA and the Charterer.
The Charterer is an established offshore service provider with a strong regional presence and experience in supporting energy sector operations. As the local contracting partner, the Charterer will support efficient execution in coordination with their end client, and compliance with local regulatory and operational requirements.
Jostein Alendal, CEO of Reach Subsea ASA: “Our technology and asset base—spanning both conventional and remote operations, as well as subsea, survey and monitoring services—are highly relevant for this region, where we see a growing number of opportunities. This contract strengthens our presence in the Mediterranean and Black Sea region, and we look forward to working together with the Charterer on the project”
In connection with this, Reach Subsea ASA has finalised the agreement with Solstad Maritime ASA for the charter of the vessel Normand Jarstein, which will support the contract operations. The vessel is currently mobilising in the Black Sea for commencement of the project.
Alastair McKie, Managing Director of Reach Subsea UK: “This project is an important award for our organisation, and we look forward to the role our Aberdeen team will play in supporting it’s execution across various disciplines.”