Operational figures and contract awards
Reach Subsea ASA (“Reach”) releases monthly operating figures on or before the 15th day following a month end. Please find attached the company's monthly operating figures for October 2020.
Furthermore, since our last announced contract award, Reach has alone and together with its partner MMT Sweden AB secured several smaller contracts for the winter season. We now have approximately 1,000 project days (equivalent to about 1,400 ROV days) for second half 2020 execution, of which 430 project days (580 ROV days) are for 4Q2020 execution. Also, three of our subsea spreads have now secured a good schedule for 1Q2021.
For further information, please contact:
Jostein Alendal, CEO
Birgitte W Johansen, CFO
www.reachsubsea.no