Reach Subsea will keep an Olympic Subsea vessel on charter for at least another three years.

The Haugesund-based, Oslo-listed company announced on Monday that it would hold on to the 4,823-dwt Olympic Triton’s (built 2007) until 2026, with two one-year extension options.

“The strong market growth for subsea services is expected to continue for many years, with thousands of new offshore wind turbines to be installed and serviced, and increasing activity in the traditional oil and gas sector,” Reach chief executive Jostein Alendal said.