Reach Subsea Extends Olympic Taurus Charter and Orders Two ROVs

Norwegian company Reach Subsea has extended the charter for the Olympic Taurus subsea vessel and ordered two new Constructor-type remotely operated vehicles (ROVs) from Kystdesign.

Back in February, Reach Subsea announced a 100-day project charter for the subsea vessel Olympic Taurus, with extension options for 2+1+1 years.

The company has now extended the charter for an additional two years and retain options for another 1+1 years.

"With a solid backlog and substantial tender pipeline for the coming periods, we are enhancing our capacity to capitalize on the rapidly advancing global subsea market. Reach Subsea is ideally positioned with a comprehensive service portfolio spanning ocean services and data delivery, catering to both the growing renewables sector and the established oil and gas market,” said Jostein Alendal, CEO of Reach Subsea.

In addition, Reach Subsea has ordered two new Constructor ROVs from Kystdesign with delivery in May 2024, which will be financed through the equipment leasing frame agreement.

The Constructor is a heavy duty ROV designed for carrying and operating large tools and modules and has a depth rating of 3000 meters. Following delivery, the ROVs will be mobilized onto the Reach Subsea fleet and will expand its subsea service capacity into the 2024 season.

“The addition of the two new Constructor ROVs not only enhances our fleet's flexibility but also bolsters our capability to efficiently execute a diverse range of underwater tasks.

“These cutting-edge ROVs seamlessly integrate into our existing portfolio of assets, further solidifying our position to effectively address the demands of our clients.

“Their advanced technology and robust design align perfectly with our commitment to deliver high-quality services and meeting the evolving needs of our clients across various industries,” added Alendal.