Norway-based companies Aibel and Reach Subsea have signed an agreement for joint projects within subsea oil and gas, rig repairs, and decommissioning of existing offshore structures and installations.

Aibel and Reach Subsea operate within the same market segments, yet have a different client base. Under the agreement, Aibel and Reach Subsea will perform complex projects by sharing resources.

Aibel executive vice-president 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.

"The cooperation agreement will strengthen both parties’ ability to provide a more comprehensive and competitive product."

"By efficiently utilising 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."

Tollefsen said that the cooperation between the companies will provide new opportunities. The agreement also covers projects within renewable and ship.

In April, Aibel secured a contract for yardstay and assistance with the final preparations of the floating production storage offloading vessel Glen Lyon FPSO.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The company has eight locations in Norway. It also operates in Thailand, Singapore and Denmark.

Image: Reach Subsea CEO Jostein Alendal (left) and Aibel EVP Yard Haugesund, Bjørn Toll. Photo: courtesy of Aibel.