Norwegian offshore services player Reach Subsea has signed a conditional letter of award for a significant project in West Africa.
The Haugesund-based company will be a sub-contractor to an undisclosed major tier-one contractor. The work scope involves support for the installation and anchoring of an offshore unit, as well as survey and positioning tasks to be undertaken by Reach Subsea subsidiary iSurvey.
Financial details have not been disclosed but the company said the latest award, including several other recent contracts and extensions, add about NOK300m ($29.5m) since the company’s Q3 2022 report.
“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,” said CEO of Reach Subsea Jostein Alendal.
The project is expected to start towards late Q1 2023 and should last well into Q2 2023. Reach Subsea will charter a hybrid-powered AHC/offshore construction vessel, mobilised with a work class ROV.
