December 13, 2021

Credit: David Meek / MarineTraffic.com

The Norwegian submarine services company Reach Subsea announced Monday that it has been awarded a contract in the Gulf of Mexico in the United States for execution in late 2021 and 2022, which represents approximately 230 days of the project.

The project, with an anonymous client, involves the support of an Ocean Bottom Node campaign and will be carried out by the Olympic ship Artemis Spread.

“Together with other recent smaller contract awards, this award provides another indication of improving visibility and fundamentals in our market,” said Reach Subsea.

The company now has approximately 1,150 project days for execution in 2022 and 2023. These figures do not include options and expected call extensions under framework agreements, which from experience can be work. important additional, the company added.

“We are delighted to have secured contracts in the Americas region and to be re-selected as our preferred supplier. The pricing in the OBN segment matches very well with our recent acquisition of Octio and is a market that we aim to further exploit in the years to come, ”said Jostein Alendal, CEO of Reach Subsea.

As reported last week, Reach Subsea agreed to purchase OCTIO AS, a provider of monitoring solutions for oil and gas production fields and CO2 storage tanks, from Equinor Ventures.

OCTIO carries out geophysical studies which lead to global monitoring strategies; plans and executes operations and provides support to integrate data into interpretation workflows.

The company’s main technological proposals are real-time passive seismic monitoring and survey-based 4D gravity and seabed subsidence monitoring that provide an alternative to seismic at 10% of the cost and with no impact on marine life, said Reach. OCTIO surveillance technologies are typically deployed and retrieved using ROVs.


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