Haugesund, 12 February 2024: Reach Subsea ASA offering high quality solutions
and technology to clients in need of ocean data and services, continues to
bolster its long-term capabilities to meet the increasing demand in the subsea
services market.

Reach has expanded its capacity by securing charters for both the Northern Maria
and Olympic Taurus. 


For the Northern Maria, the charter arrangement includes 3 years firm period and
6+6 months options.

Northern Maria is a versatile survey vessel with a 20 tons crane and sufficient
accommodation and deck capacity, suitable to meet Reach Subsea's client's
requirements within both the renewable energy and oil and gas sectors. It is an
important step to take an increased market share in the early-stage survey
market for offshore wind projects, as well as being a capable vessel to perform
subsea inspections campaigns. 


For the Olympic Taurus, a project charter commenced in January 2024 for a
duration of 100 days, with the potential for extension up to an additional 2+2
years.

The Olympic Taurus is a Multipurpose Offshore Vessel featuring diesel-electric
propulsion, notable for its low fuel consumption and exceptional flexibility.
Equipped with a helideck and an AHC crane, it offers versatility perfectly
suited for deployment in the IMR/LCV segments.

 
Both charters are subject to final approval from lenders.


"With a secured backlog for upcoming project periods and long-term charter
options in place, we are enhancing our capacity to capitalize on the rapidly
advancing global market. Reach Subsea is ideally situated with a comprehensive
service portfolio spanning ocean services and data provision, catering to both
the growing renewables sector and the established oil & gas market" said Jostein
Alendal, CEO of Reach Subsea.


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For more information please contact:
Birgitte Wendelbo Johansen
Chief Financial Officer
Reach Subsea ASA
bwj@reachsubsea.no

 
About Reach 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 across
Norway, US, UK, Cyprus, Singapore, Trinidad Brazil and Australia. 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. This stock exchange announcement was published by Jorunn Håvardsholm,
Marketing and Communications Manager at Reach Subsea ASA on the time and date
provided.

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