Haugesund,12 December 2023 :Reach Subsea ASA , the trusted data and subsea service provider for ocean-based industries, has together with its Brazilian partner OceanPact received a notice of contract award fromEquinor for combined light construction, IMR (inspection, maintenance, and repair) and survey services on the Peregrino field offshore Brazil. The specific project has a duration of approximately 45 vessel days and is assigned as part of a contract that is valid for one year, implying additional scope of work being added. It will be performed by the subsea vessel HavilaSubsea following the ongoing project inBrazil , with start in December this year. The project has high technical complexity and combines services provided by different divisions ofReach Subsea . "This an important contract forReach Subsea , documenting both the excellent relationship withEquinor as a client and the breadth and high quality ofReach Subsea's offering. We are proud to once again have been given the trust from a tier-one energy company to deliver high-end services," saidJostein Alendal , CEO ofReach Subsea . "Expansion in the growing Brazilian market is of high importance and implies a significant potential forReach Subsea . TheEquinor contract is a piece of firm evidence of our commitment and success", saidCleiver Moulin , Managing Director of Reach Subsea Brazil. With this contract award, along with several other recent contract wins inEurope and US,Reach Subsea has secured contracts with an estimated total value of aboveNOK 265 million . The majority of these contracts are starting in Q4 2023 and Q1 2024.Jostein Alendal , CEO ofReach Subsea , commented on this stating: "We are witnessing a consistent and robust demand for our services within the ocean sector. These contracts bolster our existing order backlog and serve as a confirmation to the compelling value proposition of our comprehensive and integrated offerings. They also underscore our ability to effectively compete for a diverse range of assignments on a global scale." For more information please contact:Birgitte Wendelbo Johansen Chief Financial OfficerReach Subsea ASA bwj@reachsubsea.no AboutReach Subsea :Reach Subsea ASA Group offers high quality solutions and technology to clients in need of ocean data and services. Services are offered out of our head office in Haugesund as well as from our subsidiaries and branches located acrossNorway , US,UK ,Cyprus ,Singapore ,Trinidad Brazil andAustralia . The Group's objective is to be a preferred partner and full-service provider of ocean services for clients, focusing on safety, environment, financial solidity and profitability. Our vision "Sustainable access to ocean space" underpins our commitment to the development of sustainable solutions, with stakeholder groups key interests in focus. This information is considered to be inside information pursuant to the EU Market Abuse Regulation (MAR) and is subject to the disclosure requirements pursuant to MAR article 17 and Section 5-12 the Norwegian Securities Trading Act. Thisstock exchange announcement was published by Jorunn Håvardsholm,Marketing and Communications Manager atReach Subsea ASA on the time and date provided.
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