Reach Subsea Wins More Work

Norwegian contractor Reach Subsea said it has recently been awarded subsea IMR and survey and inspection contracts for the 2019 summer season.

According to the company, the combined firm value is approximately NOK 40 million ($4.6 million).

The awarded contracts are a mixture of two call-offs under Reach’s frame agreements and a larger contract won in the spot market.

These contracts also contain optional periods, which, if called upon, would increase the firm contract value considerably, the company said in Oslo Exchange filing.

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