BP Contract Award for Norman Reach
Friday 19 January 2018
BP has awarded a contract for use of the vessel Normand Reach on the Mungo field in the North Sea. The value of the contract is confidential between the parties.
Normand Reach will be used on a walk-to-work project with expected start-up late April/early May. The 12-week contract has options to extend 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.