Reach Subsea

What Reach Subsea does

Reach Subsea ASA is a publicly listed Norwegian offshore services company headquartered in Haugesund, operating a global fleet of crewed and uncrewed vessels that deliver subsea inspection, maintenance, repair (IMR), construction support, and survey services to offshore energy operators. The company's core technology platform is the Reach Remote uncrewed surface vessel (USV) system, comprising 24-meter vessels equipped with hull-mounted survey sensors and a Work Class Electric ROV (ZEEROV), operated from onshore Remote Operations Control Centers using VSAT, 5G, Iridium, and Starlink communications. Proprietary technologies include gWatch 4D gravity monitoring (deployed at Troll and Ormen Lange), DepthWatch seismic node technology, and the DRIX autonomous shallow-water survey vehicle. Reach Subsea holds the world-first full flagstate approval from the Norwegian Maritime Authority for commercial unmanned vessel operations in European waters.

The business operates an enterprise field sales model with frame agreements and turn-key project contracts with major oil and gas customers including Equinor, Shell, Gassco, and Woodside, plus emerging renewable energy and subsea cable infrastructure work. Revenue is generated primarily through professional services for subsea operations (IMR, construction support, survey) and vessel charter services, with the Reach Remote fleet positioned as a recurring-revenue autonomous operations line that is being established as a standalone company. The company employs over 500 professionals across offices in Norway, Sweden, the UK, the US, Brazil, Trinidad, Australia, and Singapore, with operations spanning the North Sea, Mediterranean, Black Sea, Australia, Southeast Asia, West Africa, and the Americas.

Reach Subsea was founded in 2012 and listed on the Oslo Stock Exchange (ticker RSBSF). Recent strategic moves include the September 2025 acquisition of Swedish subsea equipment firm Subvision AB, ordering two additional USVs (Reach Remote 3 and 4) from Kongsberg Maritime for H2 2027 delivery, securing a EUR 14.3 million EU Innovation Fund grant, and signing strategic partnerships to expand into Australia and the Black Sea. The company is simultaneously expanding its autonomous vessel capacity and pivoting toward defense and renewable energy adjacencies, while near-term financials have weakened, with Q1 2026 revenue of NOK 551.4M down 21% year-over-year and EBIT of NOK -192.1M.

Name

Reach Subsea

Legal name

Reach Subsea ASA

Website

https://reachsubsea.no

Company type

Public

Founded year

2012

Operating status

Operating

Headcount range

251–500 employees

Short description

Reach Subsea is a Norwegian publicly listed offshore services company that delivers subsea inspection, IMR, construction, and survey services to oil and gas majors using a fleet that includes the world's first commercially certified unmanned surface vessels, operated across eight countries.

Ownership category

akta.pro rank

Product category

Offshore Subsea Services

NAICS

Support Activities for Water Transportation (4883), Other Support Activities for Water Transportation (48839), Ship Building and Repairing (336611), Geophysical Surveying and Mapping Services (54136)

SIC

Oil & Gas Field Services, Nec (1389), Water Transportation (4400), Ship & Boat Building & Repairing (3730)

akta.pro primary industry

Subsea Services & Equipment (Subsea Trees, Umbilicals, Installation, IMR) (EUALABAI)

akta.pro secondary industries

Underwater Inspection, Maintenance & Repair (UWILD, Diving/ROV, In-water Cleaning) (IMAJAFAJ), Offshore Marine & Aviation Support (PSVs, AHTS, Crew Boats, Helicopters) (EUALABAJ), Unmanned Underwater Vehicles (UUV) & Autonomous Subsea Platforms (IMABAIAF), Underwater/Port Infrastructure Security (Dive Teams, Hull & Pier Inspections) (BPAKALAH)

Keywords

• Subsea IMR services
• Offshore survey positioning
• Uncrewed surface vessels
• Marine geophysical monitoring
• Subsea construction support

Headquarters

HQ city

Haugesund

HQ country

Norway

HQ region

Europe

Offices9 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Supply Chain, Marketing or Sales

Revenue model

1. Subsea Services: Core revenue stream from inspection, maintenance, repair (IMR), construction support, and survey services delivered through versatile vessel fleet including survey, IMR, construction support, and remote vessels. Services powered by advanced ROV technology and onshore engineering expertise.
2. Vessel Charter Services: Revenue from chartered vessel operations including the Normand Jarstein for IMR and light construction services in the Black Sea and Mediterranean regions.
3. Remote Operations Technology: Revenue from remote and autonomous subsea operations using the Reach Remote USV fleet. The company is establishing Reach Remote as a standalone company for focused growth in unmanned maritime operations.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

Reach Subsea delivers offshore subsea services worldwide, including inspection, maintenance and repair (IMR), construction support, asset integrity and pipeline inspection, marine survey and positioning, geophysical and 4D gravity reservoir monitoring, and environmental monitoring. It combines a versatile fleet of crewed vessels with the Reach Remote uncrewed surface vessel (USV) fleet, supported by proprietary technologies such as the ZEEROV electric ROV, DepthWatch seismic nodes, gWatch 4D gravity monitoring and the DRIX survey vehicle.

Differentiator

Problem solved

Functional benefit

Brands

• Reach Remote: Unmanned surface vessel (USV) fleet providing remote subsea inspection, survey, and mapping operations with a targeted 90% reduction in emissions compared to traditional crewed vessels.
• gWatch
• DepthWatch
• ZEEROV
• DRIX

Products and services

• Subsea Services (IMR, Construction Support, Asset Integrity & Pipeline Inspection) Inspection, maintenance and repair (IMR), construction support and pipeline integrity services delivered from crewed and uncrewed surface vessels, primarily to offshore oil & gas operators and renewables developers.
• Survey & Positioning Marine surveys and positioning services covering seabed surveys, offshore cable route surveys, marine construction support, rig moves and mooring operations; supports oil & gas and offshore wind projects.
• Geophysical Monitoring (gWatch 4D) 4D gravity-based reservoir monitoring of hydrocarbon fields and other geophysical monitoring services for offshore operators, leveraging Reach Subsea's proprietary gWatch technology and DepthWatch seismic node technology.
• Environmental Monitoring (Monviro) Environmental monitoring solutions for offshore projects, supporting consenting, post-installation compliance and ongoing environmental stewardship around oil & gas and offshore wind sites.
• Reach Remote (USV-based remote subsea services) Subsea inspection, intervention and survey work delivered from uncrewed surface vessels operated from onshore Remote Operations Control Centers, delivering up to ~90% emissions reduction versus conventional offshore vessels; the first commercially approved USV operations of their kind under European flagstate approval.

Quantifiable outcome

• Up to 90% reduction in GHG emissions compared to traditional crewed vessels
• +4 more outcomes

Named customers5 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Seven partnerships are on record, tiered major, strategic and core.

• Solstad Maritime ASAmajorTechnology or Integration · 1 May 2026Vessel charter agreement for the Normand Jarstein, a 117.35-meter construction support vessel built in 2014. Vessel mobilized in the Black Sea to support 2+1 year IMR and light construction services contract.
• Beacon OffshoremajorStrategic or Co-development Partner · 1 May 2026Memorandum of Agreement signed May 2026 to establish strategic partnership for jointly pursuing subsea projects in Australian waters. Parties will collaborate exclusively to market, tender for, and execute subsea projects combining Reach Subsea's engineering and technology with Beacon Offshore's local capabilities.
• GeoForce (Venterra Group)majorStrategic or Co-development Partner · 1 March 2026Appointed to conduct geotechnical surveys for Shetland HVDC Link 2, a 525 kV cable project connecting Shetland and Scotland to supply 2 GW of renewable electricity to Britain. Six-month survey campaign beginning February 2026.
• Subvision ABstrategicStrategic or Co-development Partner · 1 September 2025Swedish company founded in 1993 specializing in subsea equipment design for military and offshore environments. Acquired to enhance surveillance technology for critical infrastructure, including unexploded ordnance and buried pipeline detection capabilities.
• Kongsberg MaritimecoreTechnology or IntegrationStrategic partner leading USV design and construction. Kongsberg delivers Launch and Recovery System (LARS) and core vessel technology including EM2040 multibeam echosounder and Topas PS120 sub-bottom profiler. Contract signed for delivery of Reach Remote 3 and 4 vessels, expanding the fleet to four USVs.
• Masters of Massterly (Kongsberg/Wilhelmsen JV)coreTechnology or IntegrationJoint venture between Kongsberg and Wilhelmsen handles maneuvering and remote/autonomous control of Reach Remote USVs. Manages control systems from onshore Remote Operations Control Centers.
• KystdesigncoreTechnology or IntegrationDeveloper of ZEEROV Zero Emission Electric Work Class ROV. Collaboration with Kystdesign for development and deployment of electric ROV technology for Reach Remote USV operations.

Scale indicators12 records

Recent moves9 records

Expansion highlights7 records

Broad incumbents

• TechnipFMC: Global subsea integrated services provider offering subsea trees, IMR, and SURF solutions. Comparable on subsea IMR and engineering services to offshore energy operators, though with broader integrated project scope.
• Aker Solutions: Norwegian provider of subsea production systems, IMR, and offshore engineering. Comparable on subsea engineering, IMR, and project services to offshore oil & gas operators; broader portfolio than Reach Subsea.
• Saipem: Italian offshore engineering and construction major offering subsea pipelines, IMR, and offshore field development. Operates broader portfolio of offshore services; overlaps with Reach Subsea's construction support and IMR offerings.
• Kongsberg Maritime: Norwegian maritime technology and USV designer; both a partner (designs Reach Remote USVs) and a comparable adjacent player in remote/autonomous vessel technology and subsea systems. Comparable on autonomous subsea platform technology stack.

Direct peers

• TGS: Norwegian-headquartered multi-client geophysical data and seismic library company. Comparable to Reach Subsea on offshore geophysical data acquisition, 4D seismic support, and reservoir monitoring services.
• DOF Group: Norwegian offshore vessel operator providing subsea IMR, construction support, and survey services. Comparable to Reach Subsea on vessel-based subsea IMR operations, especially in the North Sea.
• Subsea 7: Global offshore contractor providing subsea IMR, SURF, and construction services to oil & gas operators. Closest direct peer to Reach Subsea's subsea services and vessel-based IMR offerings, though at significantly larger scale.
• Fugro: Dutch-headquartered provider of geo-data, seabed surveys, and offshore site characterization. Directly comparable to Reach Subsea's survey & positioning, geophysical monitoring, and offshore wind/cable route survey services.
• PGS (TGS-PGS Data Solutions): Marine geophysical company offering seismic acquisition and reservoir monitoring services. Comparable to Reach Subsea on offshore seismic survey operations and 4D seismic for reservoir monitoring.
• Solstad Maritime: Norwegian offshore vessel owner providing AHTS, PSVs, and CSV for subsea IMR and construction. Both a peer (vessel-based IMR) and a partner (Reach Subsea chartered the Normand Jarstein from Solstad for the Black Sea IMR contract).

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/reachsubsea
• LinkedInlinkedin.com/company/reach-subsea

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Reach Subsea