Haugesund, 2 May 2023 - Reach Subsea ASA, the trusted data and subsea service
provider for ocean-based industries, has been awarded a five months plus options
contract with a major renewable energy company for delivery of offshore wind
related services.
The subsea vessel Deep Cygnus will be utilized on the project, which will
commence project in early May 2023. With this fixture the Deep Cygnus has a
significant contract coverage for the 2023 season.
"The offshore wind market will be a great driver for Reach Subsea in the years
to come, and the growth has just started. We are proud to once again have been
given the trust form a tier one renewable energy company to deliver high-end
services. The Deep Cygnus vessel has performed well in the renewables segment
for many years, and we are happy for the continuation as part of the Reach
Subsea fleet, said Jostein Alendal, CEO of Reach Subsea.
Reach Subsea last summer signed an agreement for the use of Deep Cygnus for 4
years with an option to extend for one year.
"The long-term Deep Cygnus charter is part of our strategy to secure significant
high-quality vessel capacity for the coming years, preparing for growing demand
for our service offerings in both the renewables- and oil & gas segments in the
coming years," said Jostein Alendal.
During the coming winter 2023/2024, Deep Cygnus will go into drydock for
periodic maintenance and for battery installation during the winter 2023/2024
and be ready for the 2024 season with a significant reduction in fuel
consumption and state of the art subsea equipment.
"In Reach Subsea we have clear short- and long-term targets for reduced
emissions, and installation of batteries for electrical propulsion on Deep
Cygnus will be another step in the right direction," said Jostein Alendal.
For more information please contact:
Birgitte Wendelbo Johansen
Chief Financial Officer Reach Subsea ASA
bwj@reachsubsea.no
About Reach Subsea:
Reach Subsea ASA Group offers high quality solutions and technology to clients
in need of ocean data and services. Services are offered out of our head office
in Haugesund as well as from our subsidiaries and branches located across
Norway, US, UK, Cyprus, Singapore, Trinidad and Brazil. The Group's objective is
to be a preferred partner and full-service provider of ocean services for
clients, focusing on safety, environment, financial solidity and profitability.
Our vision "Sustainable access to ocean space" underpins our commitment to the
development of sustainable solutions, with stakeholder groups key interests in
focus.
This information is considered to be inside information pursuant to the EU
Market Abuse Regulation (MAR) and is subject to the disclosure requirements
pursuant to MAR article 17 and Section 5-12 the Norwegian Securities Trading
Act. This stock exchange announcement was published by Birgitte Wendelbo
Johansen, Chief Financial Officer at Reach Subsea ASA on the time and date
provided.