Haugesund, 01 July 2025 - Reach Subsea ASA ("Reach") announces increased order
backlog after securing multiple new contracts and call-offs within the scope of
our existing frame agreements in the North Sea and European regions. Estimated
total value of these contracts is NOK 370 million, commencing in Q3 and Q4 2025.
Included in the order backlog is an award by Equinor for the unmanned vessel
Reach Remote. This contract includes a number of initial survey and IMR work
packages focused on remotely operated vehicle (ROV) across multiple sites in the
North Sea and the Norwegian Sea. These survey and IMR scopes will leverage the
proven capabilities of the Reach Remote spread both for survey and IMR.
"We are pleased to report success in securing contracts across multiple markets
and regions and to see Reach Remote playing its natural role in our schedule of
diverse subsea campaigns" said Jostein Alendal, CEO of Reach Subsea.
-ENDS-
For more information please contact:
Birgitte Wendelbo Johansen
Chief Financial Officer
Reach Subsea ASA
bwj@reachsubsea.no
About Reach Subsea
Our services are delivered through a fleet of vessels, supported by offices in
Norway, Sweden, the UK, the US, Brazil, Trinidad, Australia, and Singapore. We
currently employ close to 500 people across both offshore and onshore locations.
The company operates a wide range of work and survey ROVs from its fleet of
vessels, ranging from smaller survey, IMR, to light construction vessels.
Operations are performed by highly qualified offshore personnel and supported by
competent onshore engineering resources. The Group's objective is to offer high
quality solutions and technology to clients in need of ocean data and services.
Our vision,'Sustainable access to ocean space,' underpins our commitment to
developing sustainable solutions while carefully balancing the interests of all
our stakeholder groups.
This information is considered to be inside information pursuant to the EU
Market Abuse Regulation (MAR) and is subject to the disclosure requirements
pursuant to MAR article 17 and Section 5-12 the Norwegian Securities Trading
Act. This stock exchange announcement was published by Jorunn Håvardsholm,
Communications and Marketing Director at Reach Subsea AS on the time and date
provided.