Reach Subsea charters Olympic duo

Norwegian contractor Reach Subsea has entered into a charter agreement with Olympic Subsea for use of the two subsea vessels Olympic Artemis and Olympic Delta for the 2021 season.

The charters also come with mutually agreed options for further extensions.

Reach already has one WROV on Olympic Artemis under a co-operation agreement with Olympic, and has performed several projects with the vessel since 3Q 2020.

This co-operation agreement will from 1Q 2021 move forward with the new charter deal, giving Reach better commercial control of the Olympic Artemis subsea spread, the company said.

The Olympic Artemis, built in 2015 by Kleven Yard, is one of the most modern survey and IMR vessels in the market, with fuel economic solutions ensuring fuel savings and reduced environmental footprint.

Olympic Delta was also built in 2015 and is a slightly larger version of Olympic Artemis.

The vessel comes with DP2, 900m2 free deck area, 2 ROV hangars and an 80t AHC subsea crane.

Reach previously chartered the vessel in 2017 and 2018.

The Olympic Delta will also commence operations for Reach Subsea during 1Q 2021.

Both vessels will work on projects within survey, IMR and light construction within the renewables and oil and gas sector.

Jostein Alendal, CEO of Reach, said: “Reach Subsea and Olympic Subsea have successfully been working together for several years, so I’m very confident that this will be a good and productive cooperation going forward.“

The parties agreed to keep the commercial terms of the charters confidential.