LOI award from COSL

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 years with further 2 * 1 years as option.

Reach Subsea as will utilize one of its new Supporter ROV systems to be delivered in june from Kystdesign under this contract . The scope of work will consist of cleaning and inspection of the underwater structures of the Accomodation Unit. The offshore work is planned to start in july this year.

Contact persons: Birgitte Wendelbo Johansen (CFO) +47 99 45 12 79