Norway-based services provider Reach Subsea has entered into an agreement with compatriot vessel operator Olympic Subsea for the use of the subsea vessel Olympic Challenger.
The contract is for two years, with an option to extend for one year, Reach said on Monday. The commercial terms of the charter agreement are confidential between the parties.
The vessel already has two ROVs mobilized onboard, which Reach will lease initially.
Reach will mobilize the vessel during April 2018 and use the vessel on projects within IMR and light construction within the oil & gas and renewables sectors.
Jostein Alendal, CEO of Reach says: “We are pleased to be able to offer another quality subsea spread to our clients, and Olympic Challenger is a vessel that fits nicely into our focus markets. An important part of our operational strategy is to co-operate with shipowners renowned for high quality performance, which we have experienced first hand with Olympic Subsea on the successful Allseas project.”
Olympic Challenger was built in 2008, and is a flexible vessel for light constructions, inspections and repairs within subsea, support vessel for ROVs, and suited for project within the renewable sector. The vessel is 3900 dwt with an overall length of 105 meters, a working deck of 1000 square meter, and with a 250-ton subsea crane.
Olympic Subsea chairman, Stig Remøy, said: “For a long period, Olympic Subsea has chosen not to enter long term agreements in a challenging market. In the market recovery we expect to see, our strategy provides capacity to meet the customers’ needs within the subsea and renewable sectors.”