Reach Subsea Receives Notice of Contract Award with Equinor for Offshore Work in Brazil

Reach Subsea ASA, the trusted data and subsea service provider for ocean-based industries, has 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.

Jostein Alendal, CEO of Reach Subsea, said: “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.”

Cleiver Moulin, MD Brazil, Reach Subsea AS, added: “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.”

With this contract award, along with several other recent contract wins in Europe and US, Reach Subsea 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.