Bergen, 22 November 2023: Scana-owned PSW Technology has signed a frame
agreement with a Norwegian oil and gas operator for Capping Stack & Support
Services. The contract consists of a fixed period of 3 years with a 2+2-year
option. The value of the frame agreement is defined as a sizable contract (1) if
both options are exercised.
The company will be responsible for the provision of capping stack and related
well control equipment and emergency response services. The contract period will
start from fourth quarter 2023.
"We are very pleased to be given trust which will further strengthen the
contribution to the safety within the oil and energy industry both national and
international. With PSW Technology's strategic storage facility close to one of
Europe's largest offshore supply bases, PSW Technology will have the Capping
Stack's at quayside within 24 hours of notification and reach most offshore
fields on the NCS within 1-5 sailing days," says Richard Cornell, Managing
Director in PSW Technology.
(1) A sizeable contract is defined to be between NOK 20 million and NOK 50
million.
(2) A substantial contract is between NOK 50 million and NOK 150 million.
(3) A large contract is over NOK 150 million.
For more information, please contact:
Pål Selvik, Chief Executive Officer, Scana ASA, +47 970 46 502
Richard Cornell, Managing Director, PSW Technology AS, +47 952 31 652
PSW in brief
PSW is a supplier of products, systems and services to energy companies and the
maritime industry. The company's multidisciplinary expertise, state-of-the-art
facilities and strategic partnerships enables the company to meet industry
requirements and customer challenges with safe, dependable, and cost-effective
solutions. psw.no
Scana in brief
Scana is a listed industrial owner company in the ocean industries creating
value through active ownership in market-leading portfolio companies. Scana is
headquartered in Bergen and has around 450 employees. www.scana.no