Norway's Reach Subsea has struck a deal to operate three Olympic Subsea vessels in busier offshore markets.
The Oslo-listed vessel operator said the agreement with the Stig Remoy-chaired shipowner will give it the use of the vessels from 2022.
Reach will be chartering the multipurpose support vessels (MSVs) Olympic Artemis, Olympic Delta and Olympic Challenger, which are fully mobilised with remotely operated vehicle (ROV) and survey equipment, and have the advantage of low fuel consumption.
The ships will be used for survey work, inspection maintenance and repair (IMR), construction support and light construction operations within the renewables and oil and gas sectors.
The contract terms are being kept confidential, but are "competitive", according to Reach.
"This has been a busy year for Reach Subsea and we see the momentum in the market strengthening in 2022 and 2023," Reach chief executive Jostein Alendal said.
Significant step
"In response to this, we're continuing our operations from these three modern, fit-for-purpose vessels, which will reinforce the trust our clients have in our ability to deliver low-emission, cost-effective subsea services with low risk of operational downtime."
The boss said the deal represents another significant step in building Reach into a leading player in its sector.
The 88-loa Olympic Artemis was built in 2015, which makes the unit one of the most modern survey and IMR vessels in the market.
The new charter is an extension of one agreed in 2020.
The 92-loa Olympic Delta (built 2015) is a slightly larger version of the Olympic Artemis. Both vessels will continue with Reach into 2023.
The 105-loa Olympic Challenger (built 2008) was chartered by Reach from 2018 until the summer of this year.
The vessel will begin again with a charter in the first quarter of 2022, with redelivery set for the final three months of next year.
"We are pleased by the confidence shown to us by Reach Subsea and we are certain that we will be able to continue to deliver an excellent service to Reach Subsea on all three vessels," Olympic chairman Remoy said.
