Contract Update - Reach Subsea
Friday 4 August 2017
Reference is made to our press release dated 12 June 2017 regarding a Letter of Intent ("LOI"). The LOI has today been converted into a final contract between Reach Subsea and the international contractor Allseas. Estimated start-up is early August. Duration of the firm scope of the contract is approximately four months including transit to Turkey. The project will be executed from Olympic Delta in close cooperation with our partner MMT Sweden.
Jostein Alendal (CEO) says: "We are proud to have been awarded an important contract of complex character from a new client. The powerful combination of Reach Subsea's ROV competence and MMT's Survey competence has again been shown trust and we are looking forward to working closely together in delivering a solid performance for our client."