Reach Subsea Closing In On Multi-Year IMR Services Deal

Norwegian subsea services firm Reach Subsea has received a letter of intent for a multi-year contract covering inspection, maintenance and repair (IMR) and light construction services in the Mediterranean and Black Sea.

Aside from the letter of intent, covering a 2+1-year IMR and light construction services, Reach Subsea has also entered into a separate letter of intent with Solstad Maritime for the charter of the vessel Normand Jarstein in connection with the award.

A commitment has been signed to commence the vessel’s transit this week, while the final contract is expected to be concluded the following week, subject to certain conditions, Reach Subsea said.

Further details will be announced once the final contract is executed, the company added.