REACH SUBSEA ASA CONCLUDE LONG TERM CHARTER WITH SOLSTAD OFFSHORE ASA (SOFF).
Reach Subsea ASA has signed a long-term charter with
Solstad Offshore ASA (SOFF) for a Construction
Support Vessel (CSV) of design OSCV 03. The vessel
will be built by STX OSV AS and is due for delivery
2nd quarter of 2014. The charter is for 5 years firm
period with extension options for 3x1 years. The
charter has been concluded on market terms.
The vessel has an overall length of 121 meters, 23
meters beam, 1300 square meters of deck, 7,2x7,2m
working moonpool and a 250 ton subsea construction
crane. The integrated ROV hangar features handling
equipment for both over-side and moonpool launch;
enabling ROV launch in high sea states. The vessel
has accommodation for 100 people and is designed
according to the latest environmental standards with
focus on comfort and fuel consumption, and complies
with DNV's Clean Design notation.
Reach Subsea will integrate the most advanced ROV-
and subsea technology available on the market in the
vessel for efficient, safe and reliable offshore
operations. Consistent selection of modern
technological solutions both in the vessel and
equipment will ensure a high level of safety and
reliability even in challenging weather conditions.
The specification of the vessel and integrated
equipment, and choice of Vessel Owner, is in line
with the Company's strategy to maintain high quality
throughout the supply chain.
"We will benefit from working with a strong ship-
owner. Solstad's experience with advanced offshore
vessels combined with Reach Subsea's expertise in
subsea operations will form a foundation for a state
of the art subsea spread in 2014. A technical team is
already established, and we look forward to working
with Solstad and STX in the building phase" says Kåre
Johannes Lie, Managing Director in Reach Subsea.
The vessel will be operated from Reach Subsea's
offices in Haugesund and is a confirmation of the
company's plan to form a strong Norwegian subsea
player with high end vessels, equipment and
Haugesund, 14th of February 2013
Reach Subsea ASA
Kåre Johannes Lie tlf. 930 38 314 /
This information is subject of the disclosure
requirements according to section 5-12 of the
Norwegian Securities Trading Act.