Reach Subsea Nets BP Contract for Normand Reach

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

Normand Reach construction support vessel will be used on a walk-to-work project with expected start-up in late April/early May.

The contract has a duration of twelve weeks, with an option of extension 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, the company explained.

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.”

The value of the contract remains confidential between the parties.