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Aibel and Reach Subsea sign strategic partnership

CTBR Staff Writer Published 20 May 2016

Aibel and Reach Subsea have entered a formal cooperation agreement to undertake more complex projects.

Aibel and Reach Subsea has entered into a formal cooperation agreement for projects within subsea oil and gas, renewables, ship and rig repairs and decommissioning of existing platforms/subsea structures or other offshore installations.

The two companies operate within the same market segments, but have different client bases and contracting approaches.

Aibel EVP Yard Haugesund, Bjørn Tollefsen said: "The cooperation agreement will strengthen both parties' ability to provide a more comprehensive and competitive product, qualifying us to take on projects we could not have executed alone.

Tollefsen is confident that a close cooperation between Aibel and Reach Subsea will lead to exiting new opportunities for the two companies.

Tollefsen said: "By efficiently utilizing resources from both parties, we will be able to undertake complex projects requiring project management, engineering, fabrication, installation, MC (mechanical completion), commissioning, decommissioning and ROV marine services/operations."

Source: Company Press Release