Reach Subsea ASA - Company Profile
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Reach Subsea ASA (Reach) provides engineering consultancy services and operates advanced remotely operated underwater vessels (ROVs) for the oil industry. The company's main activities include inspection, maintenance and repair, survey, construction support, and decommissioning services. Reach offers multi-support vessels equipped with ROVs to its customers. The company serves technologically demanding clients in the cable and wind, oil and gas, and other industries requiring subsea operations. Reach operates through its wholly owned subsidiary, Reach Subsea AS, with a presence in various countries. The company has subsidiaries located across Norway, Sweden, the UK, the US, Brazil, Cyprus, Trinidad, Australia, and Singapore. Reach Subsea is headquartered in Haugesund, Rogaland, Norway.
Headquarters
Norway
Address
Mollervegen 6, Haugesund, 5525
Website
reachsubsea.no
Telephone
47 40 007710
No of Employees
529
Industry
Energy and Utilities
Ticker Symbol & Exchange
REACH (OSL)
Revenue (2024)
$257.7M
-1.5%
(2024 vs 2023)
EPS
XYZ
Net Income (2024)
XYZ
-47.4%
(2024 vs 2023)
Market Cap*
$216.3M
Net Profit Margin (2024)
XYZ
-46.6%
(2024 vs 2023)
* As of and is in US$
Reach Subsea ASA premium industry data and analytics
Products and Services
| Services |
|---|
| Inspection Maintenance and Repair |
| Remotely-operated Underwater Vessel Operation Survey |
| Engineering Consultancy |
| XYZ |
| XYZ |
| XYZ |
History
History section provides information on new products, mergers, acquisitions, expansions, approvals, and many more key events.
| Year | Event | Description |
|---|---|---|
| 2026 | Contracts/Agreements | In May, the company received a letter of intent (LOI) for Mediterranean IMR services and secured vessel charter arrangements with Solstad Maritime. |
| 2026 | Contracts/Agreements | In May, the company secured a 2+1-year Black Sea IMR and light construction contract, chartering Normand Jarstein. |
| 2026 | Contracts/Agreements | In May, the company signed a Memorandum of Agreement with Beacon Offshore to jointly bid for Australian subsea projects using two DPII vessels. |
Competitor Comparison
| Key Parameters | Reach Subsea ASA | Oceaneering International Inc | DOF Group ASA | Solstad Offshore ASA | Argeo ASA |
|---|---|---|---|---|---|
| Headquarters | Norway | United States of America | Norway | Norway | Norway |
| City | Haugesund | Houston | Storebo | Skudeneshavn | Hvalstad |
| State/Province | - | Texas | - | - | - |
| No. of Employees | 529 | 11,100 | 5,905 | 905 | 111 |
| Entity Type | Public | Public | Public | Public | Private |
Key Financial Charts
Sales Growth
Net Income Growth
Executives
| Name | Position | Board | Since | Age |
|---|---|---|---|---|
| Rachid Bendriss | Chairman | Executive Board | 2020 | 57 |
| Jostein Alendal | Chief Executive Officer | Senior Management | 2014 | - |
| Inge Grutle | Chief Operating Officer | Senior Management | 2012 | - |
| Audun Brandtzæg | Chief Technology Officer | Senior Management | 2023 | - |
| Alastair McKie | Managing Director - UK | Senior Management | - | - |
| Non Dignissim Eros | Proin vel | Convallis | 2026 | XY |
| Non Dignissim Eros | Proin vel | Convallis | 2026 | XY |
| Non Dignissim Eros | Proin vel | Convallis | 2026 | XY |
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