2008

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  Establishment of Reach Subsea AS

  August 2008

  Reach Subsea AS was established in 2008 by Jostein Alendal, Åge Johan Nilsen jr, Sven Magne Storesund and Håvard Framnes. The first years the founders worked externally as consultants, primarely under a frame agreement with Technip. In addition, the started the development of a New, innovative survey-ROV, the Surveyor. Håvard Framnes...
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2009

2010

2011

2012

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  Kåre Johannes Lie

  June 2012

  Title

  Executive Chairman of the Board

  Education

  Master of Science in Naval architecture and Marine Engineering from NTNU.

  Experience

  Founder and CEO of DeepOcean AS. Prior to that Mr Lie held Director positions for Stolt-Nielsen Seaway and Acergy/Subsea7 for 17 years.

  35

  Years in Subsea

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  Inge Grutle

  June 2012

  Title

  Chief Operating Officer

  Education

  Master of Science degree in Marine and Subsea Technology

  Experience

  IMR Engineering Manager and business development in DeepOcean and has experience in planning and execution of offshore and subsea operations.

  10

  Years in Subsea

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  New office

  July 2012

  Our new office is soon ready and we are looking forward to move our business into a new state of the art office- and workshop building. We will start to move on Monday the 9th of July, and are expected to be all installed into the new location from...
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  ONS 2012

  October 2012

  During ONS2012 we had our stand together with the Haugaland region. Our stand had a lot of visitors and we had during the exhibition daily several interesting meetings with potential new clients, partners and sub-contractors. We would like to thank everyone that visit our stand during ONS2012!

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  Bjørg Mathisen Døving

  October 2012

  Title

  Quality Manager

  Education

  HSEQ engineer

  Experience

  Project Manager at DeepOcean. IMR Contract Administrator at DeepOcean. HSE Manager at DeepOcean. HSE Trainee at BP.

  15

  Years in SUBSEA

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  Workclass ROV order

  November 2012

  On Tuesday the 14th of November, Reach Subsea AS signed a contract with Kystdesign AS for delivery of two work class remote operated vehicles (ROV). The contract includes complete equipment for two spreads of the model Supporter with delivery planned for second quarter 2013. The contract for ROV delivery is...
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  Private placement and stock listing for Reach Subsea

  December 2012

  Completion of combination with Reach Subsea AS and NOK 42 million private placement (News from www.newsweb.no) Reference is made to Transit Invest ASA's (the "Company") stock exchange notices of (i) 31 October 2012 regarding a contemplated combination with Reach Subsea AS (the "Combination"), (ii) 1 November 2012 regarding the completed...
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  Birgitte Wendelbo Johansen

  December 2012

  Title

  Chief Financial Officer & HR manager

  Education

  The blue MBA and Master of Business and Economics.

  Experience

  Account manager in BNP Paribas, Shipping dept. Analyst and Project manager in Oceanlink Management. Relationship manager in SpareBank 1 SR-Bank, Energy & Maritime dept.

  14

  Years in Finance

2013

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  4th Quarter 2012 report

  February 2013

  HIGHLIGHTS 4TH QUARTER * Aquisition and combination with Reach Subsea AS following a change of board of directors and management as well as business plan * Ordering 2 WROV systems with handling   ACCOUNTS AND FINANCE The core activity during 4th quarter has been sale of external consultancy services under existing frame agreements. Further, a...
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  REACH SUBSEA ASA conclude long term charter with Solstad Offshore ASA

  February 2013

  Reach Subsea ASA has signed a long-term charter with Solstad Offshore ASA (SOFF) for a Construction Support Vessel (CSV) of design OSCV 03. The vessel will be built by STX OSV AS and is due for delivery 2nd quarter of 2014. The charter is for 5 years firm  period...
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  Annual Report 2012

  March 2013

  RESULT 2012 The Board of Directors of Reach Subsea ASA approved in a Board meeting 18. March 2013, the annual report and accounts for 2012. The net loss for the Group for 2012 was NOK 5,5 mill, which is in accordance with the preliminary result announced 26. February 2013.   The full Annual report can be...
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  1st quarter 2014 Report

  April 2013

  Quarterly report for Reach Subsea ASA. Sales income in the quarter totals NOK 1.2 million and is a result of sale of consulting services under existing frame agreements. Operating expenses were NOK 4 million for the same period. The increase from the same period last year is primarily due to an increase in the number...
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  General Meeting

  April 2013

  General Meeting in Reach Subsea ASA was held 29.04.2013. All resolutions were adopted pursuant to the Notice. For full meeting protocol, see the Investor pages. The protocol is in Norwegian only.

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  Morten Roth Stranden

  April 2013

  Title

  Marine Operations Manager

  Education

  Master of Science in Marine Technology from NTNU in Trondheim

  Experience

  Engineering and Project management in Coflexip Stena Offshore/Technip and Statoil, both in Norway and internationally.

  18

  Years in Subsea

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  EXTRAORDINARY GENERAL MEETING

  May 2013

  NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN, OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL. REACH - EXTRAORDINARY GENERAL MEETING Please find attached the minutes from the extraordinary general meeting in Reach Subsea ASA ("Reach...
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  Completed private placement

  May 2013

  NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN, OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL.   Reference is made to the stock exchange notices on 3 May 2013 regarding...
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  Joint Venture with MMT

  May 2013

  Reach Subsea AS in Haugesund Norway, an integrated Subsea Service Provider and Marin Mätteknik AB in Gøteborg Sweden, a Hydrographic Survey Company, have signed a Letter of Intent for the purpose of establishing a new Joint Venture within Offshore Survey Operations. The Parties have for some time, together with the...
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  LOI award from COSL

  May 2013

  Reach Subsea AS has received a letter from COSL Offshore Management AS stating that it is COSL intention to award Reach Subsea AS a Frame Agreement for ROV Services related to the accommodation rig COSLRigmar presently working in the Ekofisk field. The Frame Agreement will be firm for 3...
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  New contracts

  June 2013

  Reach Subsea has entered into a charter party agreement with Bourbon for the MPSV "Bourbon Emerald" for 140 days + options. The vessel will be equipped with the company's own ROVs for operations in the North Sea and under the Joint Venture with Marin Mætteknik. Further, Reach Subsea has entered into a contract with Petromarker...
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  Teamday!

  June 2013

  What a team! Today we arrange our kick-off day before the summer with all available employees for a great day in Haugesund. At the same time last year Reach Subsea had three employees and today we have passed thirty – that’s cool!

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  Testing of Supporter 20 & 21

  July 2013

  Today we are testing our new equipment, the Supporter 20 and 21 spreads: Both are scheduled for operation in end of July.

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  Stock option scheme

  August 2013

  REACH - STOCK OPTION SCHEME- MANADATORY NOTIFICATION OF TRADE Reach Subsea ASA ("Reach Subsea" or the "Company") announces that its board of directors has approved a stock option scheme to align the interests of the participating employees in Reach Subsea with those of the shareholders. Management and Employees of the Reach Group has been granted the right...
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  2nd quarter 2013 report

  August 2013

  Quarterly report for Reach Subsea ASA HIGHLIGHTS - Private placement successfully closed - The Company prepared offshore operations - New contracts, including the vessel Bourbon Emerald - Survey joint venture Revenue in the quarter was NOK 1.54 million and is primarily income from consulting services under existing framework agreements. Total income for the first half year is NOK...
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  Contract award - Calecore

  August 2013

  Reach Subsea ASA awarded contract with Calecore. REACH announced today the award of a contract from Calecore as suppliers under an existing agreement with a Norwegian Oil company. The contract is for the operation of the MPSV Bourbon Emerald on a day rate basis for around 34 days with operations starting in August 2013. The Reach...
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  Normand Reach contract with DOF Subsea

  October 2013

  Reach Subsea AS announced today that the company has signed a Letter of Intent with DOF Subsea in Norway for the charter of Normand Reach for a 2 year firm contract with 2 yearly options. Reach Subsea shall provide subsea services including 2 Reach Subsea WorkROV systems and personnel...
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  Awarded two contracts

  October 2013

  Reach Subsea has been awarded two new contracts for light construction subsea work  in the North Sea. The company will use the chartered in vessel Bourbon Emerald with Reach Subsea's own ROV-systems and offshore personnel on board. The contracts also include engineering and will secure utilisation for the vessel for approximately 14 days.

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  3rd quarter 2013 report and presentation

  November 2013

  QUARTERLY REPORT FOR REACH SUBSEA ASA HIGHLIGHTS: - REACH delivers positive results of NOK 2,9 million for the third quarter of 2013 as a result of a successful start-up of offshore operations with the vessel Bourbon Emerald. - REACH took delivery of two complete Supporter ROV systems in the third quarter, of which one was mobilized and...
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  NB 825, TBN Normand Reach

  December 2013

  Building of Normand Reach goes as planned at the yard in Tulcea, Romania. Hull will be ready for launching sometime before Christmas, and then towage to VARD yard at Aukra.    

2014

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  Contract awards and increased fleet for Reach Subsea

  January 2014

  REACH - Charter agreements Reach Subsea has signed an agreement with the Myklebusthaug group for MPSV "Dina Star". The agreement includes an instalment of a 150T subsea crane and Reach mobilization of ROV and personnel on board for use in Reach's offshore lightweight construction support projects. The vessel will be...
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  Normand Reach has arrived at Aukra

  January 2014

  Reach' site team (Jon and Bart) welcomed Normand Reach to Aukra where she is safely moored and ready for outfit.

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  4th quarter report 2013

  February 2014

  Please find enclosed consolidated report for the fourth quarter 2013 for Reach Subsea ASA. HIGHLIGHTS * REACH completed the planned offshore operations with Bourbon Emerald in the fourth quarter. REACH signed a 2 year contract + 2 yearly options to extend with DOF Subsea for provision of the vessel Normand Reach with ROVs and offshore personnel. Commencement...
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  New contract for Dina Star

  March 2014

  Reach Subsea has signed a contract with a first class charterer on British sector for the vessel Dina Star. The contract has a duration of 30 days + option period of 30 days. The vessel will be equipped with two WROVs and survey equipment as well as offshore personnel. Total...
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  New contract

  March 2014

  Reach Subsea has signed a larger contract with an international company for the vessel Dina Star. The contract starts in June and has a duration of 4-6 months. The offshore operations will take place primarily in the High North areas. Dina Star has ice class 1B and De-Ice and will under this contract serve as...
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  New contracts

  April 2014

  Reach Subsea has entered into a contract with EXXON Mobil for the vessel Stril Explorer for light construction work in the North Sea. Further, Reach Subsea has entered into new cooperation contracts with MMT for delivery of ROV- services. Total contract value is approximately NOK 15 mill. For further information, please contact: Birgitte W Johansen (CFO): +47...
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  JOINT VENTURE AGREEMENT WITH MMT

  April 2014

  Reach Subsea ASA (Reach) has signed an agreement with MMT (prev. Marin Mätteknik) in Gothenburg for cooperation on Offshore Survey and ROV services. The collaboration has already resulted in multiple operations for the vessel Stril Explorer and the companies have bid on number of tenders. Reach and MMT also collaborate on the construction and marketing of...
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  1q2014

  May 2014

  Reach Subsea announced today the first quarterly report for 2014. Presentations will be given 27th May 2014 to investors, brokers and analysts. The presentation and the full report can be found at www.newsweb.no and will be published at www.reachsubsea.no.   Should you be interested in a presentation or have any questions, please...
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  Organizational changes

  May 2014

  With reference to the previously issued notice of annual general meeting there will be proposed certain changes to the notification item 9 regarding the election of board members. Current Chairman, Rune Lande, has planned a long-term journey and will be absent from November 2014 to March 2015. As a...
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  NOTICE OF ANNUAL GENERAL MEETING

  May 2014

  The annual general meeting of Reach Subsea ASA will be held at Haraldsgata 190, Haugesund on Monday 26th May at 14:30 hours. Please find attached  notice of attendance form, proxy authorization form and invitation to attend the annual general meeting. A printed version of the enclosed invitation has been sent to the shareholders by post. The...
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  First photos of the Surveyor Interceptor

  June 2014

  Kystdesign, MMT and Reach Subsea are now seeing the first shapes and size of the innovative, in-house-developed Surveyor ROV. The Surveyor Interceptor is scheduled for delivery during Q3 2014.

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  New contract

  June 2014

  Reach Subsea has today signed a three-year time charter agreement with Østensjø Rederi for the ROV / subsea vessel "Edda Fonn". Expected commencement of the contract is December 2014. "Edda Fonn is a vessel we are very familiar with and which is very suitable for the services we offer to the...
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  Vacancies in Reach Subsea

  June 2014

  It is time to invite more people onboard the Reach Team! Please see vacancies at www.reachsubsea.no/jobs.

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  Bård Thuen Høgheim

  August 2014

  Title

  Sales and Marketing Manager

  Education

  Master in Finance from Imperial College Business School

  Experience

  Project broker in the subsea and renewables market in RS Platou and has experience in offshore industry analysis

  6

  Years in offshore

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  Surveyor Interceptor FAT and wet tests

  August 2014

  The FAT for the Surveyor Interceptor ROV has started, and will be followed by nearshore tests.

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  Sven Magne Storesund

  September 2014

  Title

  Technical Manager

  Education

  Engineer.

  Experience

  Substantial experience from the subsea industry.

  20

  Years in Subsea

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  Letter of award for NOK 60-70 million contract

  October 2014

  We are pleased to announce that Reach Subsea has received a Letter of Award for a NOK 60-70 million contract to be executed in 2015. We will revert with further details once the final contract signing has taken place in the near future. http://www.newsweb.no/index.jsp?messageId=363416

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  3 Year ROV contract with Eidesvik Offshore

  October 2014

  Reach Subsea has entered into a 3-year contract with Eidesvik Offshore for provision of ROV services on Viking TBN, a subsea construction vessel to be delivered from Kleven Yard in March 2015. The scope of services from Reach Subsea include two new work ROVs with full crewing, and is...
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  Contract award with Technip

  November 2014

  With reference to announcement of letter of award on 24th October 2014, Eidesvik Offshore and Reach Subsea have in partnership entered into a firm contract with Technip in Norway. Reach will execute the contract using Eidesvik Offshore's newbuild TBN Viking Neptun, equipped with Reach ROVs and manned by Eidesvik marine...
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  Surveyor Interceptor offshore tests ongoing

  December 2014

  Reach Subsea ASA (Reach) has, as previously announced, together with survey partner MMT Sweden AB (MMT) and manufacturer Kystdesign, developed an innovative survey ROV called the Surveyor Interceptor. The Surveyor Interceptor is designed to carry survey instrumentation to perform Pipe line inspection, Route Surveys, Subsea Installation surveys and Environmental...
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  Exercise of options

  December 2014

  We refer to press releases dated 24.11.2014 and 25.11.2014 regarding a contract with Technip in Norway related to the newbuild Viking Neptun, owned by Eidesvik Offshore. Technip in Norway has today exercised their first option to extend the contract from 110 to 180 days operations in 2015.  

2015

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  Presentation 4Q2014

  February 2015

  The attached presentation was given to investors and analysts in Oslo 24.02.2015. It is not considered to contain any undisclosed information.   For further information, please do not hesitate to contact: Birgitte W Johansen, CFO   Reach Subsea 4Q2014 Presentation

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  4Q2014-results

  February 2015

  REACH has in the 4th quarter achieved a total revenue of NOK 84.3 million and an EBITDA of NOK 6.8 million (8.1 %).  Profit after tax is NOK 7.7 million. Preliminary net result for 2014 was NOK 24.8 million (8 %) with an EBITDA-margin of 11.1 % and 16.1 % return on equity. The full report...
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  Successful tests of Surveyor Interceptor

  February 2015

  Reach Subsea and MMT Sweden have recently finalized successful offshore tests on the new Surveyor Interceptor ROV, a new, innovative Survey ROV (SROV) owned by the two companies in a JV, from the vessel Edda Fonn and the results were above expectations. Sea trials with the new SROV have been...
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  Gassco Press Release

  March 2015

  Surveyor Interceptor recently finished her first Commercial job, and we are proud to link to Gassco's own press release :-) . http://www.gassco.no/en/media/news-archive/Innovative-ROV-on-test1/  

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  Knut Jakob Medhaug

  March 2015

  Title

  ROV superintendent

  Education

  Technical College

  Experience

  ROV supervisor on the Norwegian continental shelf, Brasil and Mediterranean. Lately working with operations support.

  9

  Years in Subsea

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  CONTRACT AWARD

  March 2015

  Reach Subsea has entered into a contract with an international client for the vessel Edda Fonn. The operations in the Mediterranean will start first of April and the period is firm for 120 days, plus 60 days options. “We are satisfied with the contract award, that will improve the utilisation of the vessel for 2015...
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  Annual Report 2014

  May 2015

  The 2014 Annual Report is now available for download. Link: Annual Report 2014   If you have any questions, please contact: Birgitte W. Johansen (CFO)

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  CONTRACT FOR VIKING NEPTUN

  September 2015

  Reference is made to Eidesvik Offshore ASA's news release today, where MV Viking Neptun will perform work offshore Ghana for 50 days firm with options to extend for 50 days. Reach Subsea will perform the ROV services under this agreement, as part of the 3-year contract entered into with Eidesvik Offshore in October 2014.   CEO Jostein...
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  CONTRACTS FOR EDDA FONN

  September 2015

  Reach Subsea has, as a result of good Joint Venture cooperation with MMT Sweden AB, signed contracts for approximately 60 days for Edda Fonn in the North Sea. The work scope is primarily seabed mapping, light construction and seabed intervention. Further, Stril Explorer is expected to have high utilisation the same period. Commencement will be directly...
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2017