REACH SUBSEA ASA conclude long term charter with Solstad Offshore ASA

Published: February 14, 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 with extension options for 3×1 years. The charter has been concluded on market terms. Vessel name will be Normand Reach.

The vessel has an overall length of 121 meters, 23 meters beam, 1300 square meters of deck, 7,2×7,2m working moonpool and a 250 ton subsea  construction crane. The integrated ROV hangar features handling equipment for both over-side and moonpool launch; enabling ROV launch in high sea states. The vessel has accommodation for 100 people and is designed according to the latest environmental standards with focus on comfort and fuel consumption, and complies with DNV’s Clean Design notation.

Reach Subsea will integrate the most advanced ROV- and subsea technology available on the market in the vessel for efficient, safe and reliable offshore operations. Consistent selection of modern technological solutions both in the vessel and equipment will ensure a high level of safety and reliability even in challenging weather conditions. The specification of the vessel and integrated equipment, and choice of Vessel Owner, is in line with the Company’s strategy to maintain high quality throughout the supply chain.

“We will benefit from working with a strong ship-owner. Solstad’s experience with advanced offshore vessels combined with Reach Subsea’s expertise in subsea operations will form a foundation for a state of the art subsea spread in 2014. A technical team is already established, and we look forward to working with Solstad and STX in the building phase” says Kåre Johannes Lie,  Managing Director in Reach Subsea.

The vessel will be operated from Reach Subsea’s offices in Haugesund and is a confirmation of the company’s plan to form a strong Norwegian subsea player with high end vessels, equipment and personnel.

 

Haugesund, 14th of February 2013 Reach Subsea ASA Contact: Kåre Johannes Lie tlf. 930 38 314 / kjl@reachsubsea.no

This information is subject of the disclosure requirements according to section 5-12 of the Norwegian Securities Trading Act.

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