BP contract for Normand Reach

BP has awarded a contract for use of the vessel Normand Reach on the Mungo field in the North Sea.

The value of the contract is confidential between the parties.  Normand Reach will be used on a walk-to-work project with expected start-up late April/early May. The 12-week contract has options to extend if required.   For 2018, Reach Subsea has a firm charter commitment on Normand Reach towards Solstad Offshore for 180 days, at a competitive base rate with a profit share. Through this contract, Reach Subsea will cover roughly 50% of the charter commitment on the Normand Reach spread.    Jostein Alendal, CEO of Reach Subsea, says:  “This contract marks another important milestone for Reach Subsea. We will, as always, focus on strong execution to ensure that our track record for operational excellence remains intact.”