News listings

energy-pedia general news

Reach Subsea - Increasing project capacity through charter arrangements


12 Feb 2024

Photo - see caption

Reach Subsea, offering high quality solutions and technology to clients in need of ocean data and services, continues to bolster its long-term capabilities to meet the increasing demand in the subsea services market.

Reach has expanded its capacity by securing charters for both the Northern Maria and Olympic Taurus.

For the Northern Maria, the charter arrangement includes 3 years firm period and 6+6 months options.

Northern Maria is a versatile survey vessel with a 20 tons crane and sufficient accommodation and deck capacity, suitable to meet Reach Subsea’s client’s requirements within both the renewable energy and oil and gas sectors. It is an important step to take an increased market share in the early-stage survey market for offshore wind projects, as well as being a capable vessel to perform subsea inspections campaigns.

For the Olympic Taurus, a project charter commenced in January 2024 for a duration of 100 days, with the potential for extension up to an additional 2+2 years.

The Olympic Taurus is a Multipurpose Offshore Vessel featuring diesel-electric propulsion, notable for its low fuel consumption and exceptional flexibility. Equipped with a helideck and an AHC crane, it offers versatility perfectly suited for deployment in the IMR/LCV segments.

Both charters are subject to final approval from lenders.

'With a secured backlog for upcoming project periods and long-term charter options in place, we are enhancing our capacity to capitalize on the rapidly advancing global market. Reach Subsea is ideally situated with a comprehensive service portfolio spanning ocean services and data provision, catering to both the growing renewables sector and the established oil & gas market' said Jostein Alendal, CEO of Reach Subsea.

Original announcement link

Source: Reach Subsea





Bookmark and Share


A global information service for upstream oil and gas opportunities - divestitures, farmins and farmouts and licensing rounds.


Subscriber Only Deals

Current Deals

Current Upstream Deals: 253

Completed Deals

Completed Upstream Deals: 6548

Company Profiles

Current Company Profiles: 2909

Corporate Activity

Current Corporate Activity articles: 4124

Companies Looking

Current number of articles: 466

Company Sales

Current Company Sales articles:1649

Geostudies

Current Geostudies articles: 959

How to subscribe

energy-pedia Jobs

RSS Feed Widget
See all jobs...


energy-pedia Databank

The energy-pedia databank contains links to information on the world financial and energy markets, including share prices, oil and gas prices and the global stock exchanges. Read more...



energy-pedia Glossary

A list of commonly used terms in the oil and gas industry. Read more...

Subscribe

Subscribe to the FREE
energy-pedia Daily Newsletter
Subscribe

Telos NRG
OPC
Borchwix
Merlin
Rose & Assocs
Syntillica
energy365
Bayphase
Government of South Australia
Union Jack Oil 149
About energy-pedia

energy-pedia news is a FREE news service written and edited by E and P professionals for E and P professionals.

We don't just report the news, we give you the technical background as well, with additional information derived from our unique energy-pedia opportunities service.
Contact us

energy365 Ltd

238 High Street
London Colney
St Albans
UNITED KINGDOM

Tel: +44(0)1727 822675

Email: info@energy-pedia.com