News & Reports
Environmental Initiatives
Reduced carbon footprint
Good start to the year
Reach Subsea ASA (“Reach”) has through its cooperation with partner MMT Sweden been awarded a three-year contract, with two one-year options for Nord Stream AG. The yearly inspections, to be executed in cooperation with MMT Sweden, include visual and acoustic survey services critical for the pipeline integrity assessments, covering inspection of the European sections of both lines of […]
Record result, proposed dividend of NOK 0,15 per share
Record result, proposed dividend of 0,15 per share Highlights from the 4Q and preliminary full year 2020 report: • Best 4Q and annual result in Reach Subsea’s history despite challenging marketand operating conditions, driven by high utilization and successful projectexecution.• New innovative subsea service solution, Reach Remote, recently announced. Thesolution will significantly reduce cost and […]
Cooperation update
Reach Subsea ASA’s (“Reach”) partner MMT Sweden AB (“MMT”) has been acquired byOcean Infinity in a transaction that was made public today. Reach and MMT has apool cooperation where the risk and profit on certain vessels are shared, aswell as a 50/50 ownership in Surveyor AS which owns our two high speed surveyROVs (Surveyor). The […]
CONTRACT AWARDS
Reach Subsea ASA (“Reach”) has been awarded a call-off under our frame agreement with BP for 2021 execution, representing about 80 project days. The project involves both IMR and construction support work in Trinidad & Tobago, and will be performed by the Stril Explorer spread in co-operation with MMT. Taken together with other recent smaller […]
Reach Remote project update
Reach Subsea ASA (Reach) welcomes the announcement that Sletta, Smedasundet and Karmsundet in the Haugalandet district of western Norway has been granted official status as a national test site for remote-controlled technologies and unmanned vessels by the Norwegian Coastal Administration and the Norwegian Maritime Authority. The establishment of a test site for world-leading technology for […]
Reach Subsea ASA: Acquisition of geophysical monitoring solutions provider OCTIO
Haugesund, 8 December 2021: Reach Subsea ASA (“Reach”), a provider of subsea services globally, today announced that the Company has entered an agreement with Equinor Ventures AS to acquire OCTIO AS, a provider of monitoring solutions for hydrocarbon producing fields and CO2 storage reservoirs. “The acquisition of OCTIO will deepen Reach Subsea’s technology competence and […]
Reach Subsea: OCTIO awarded multi-year geophysical monitoring contract with A/S Norske Shell
Haugesund / Bergen, 5th February 2022: OCTIO, a subsidiary of Reach Subsea ASA (“Reach”), has secured a multi-year geophysical monitoring contract with A/S Norske Shell for the Ormen Lange field. OCTIO has delivered services to A/S Norske Shell for over a decade, and this contract further solidifies the long-standing relationship between the two parties. “OCTIO […]
Financial report for 4Q 2021 and strategic partner
Reach Subsea ASA: Full year and fourth quarter 2021 financial results Haugesund, 8 February 2021: Reach Subsea ASA, the trusted data and subseaservice provider for ocean-based industries, today published its full year andfourth quarter 2021 financial results. 4Q 2021 highlights (numbers in brackets are comparative figures from 4Q 2020): • The best fourth quarter and […]
EXCITING TIMES AHEAD
REACH is taking major steps towards an exciting future We have this afternoon published two news messages; we have raised equity through our new strategic partner, Wilhelmsen, and we have acquired iSurvey! Reach invites to a webcast presentation of the iSURVEY acquisition and the partnership agreement with Wilhelmsen tomorrow, Friday 18 February 2022, at 10:00 […]
M&A Closing
Haugesund, 22 March 2022: Reference is made to previous announcements by ReachSubsea ASA (“Reach” or the “Company”) on 17 February 2022 regarding theacquisition of the offshore survey company iSurvey for NOK 135 million, as wellas the resolution made by the Company’s extraordinary general meeting held on 15March 2022 approving the related share capital increase by […]
ANNUAL REPORT and SUSTAINABILITY REPORT
Haugesund, 1 April 2022: Reach Subsea ASA has today published its Annual Report and Sustainability Report for 2021. The annual accounts and reports were approved by the Board of Directors on the 31 March 2022. The numbers are identical to the preliminary 2021 accounts published as part of the Reach Subsea ASA fourth quarter 2021 […]