Equinor exercises first option of frame agreement with Scana company with an estimated value of up to NOK 450 million

Equinor has exercised the first of two three-year options under its frame agreement with Scana-owned PSW Technology AS. This option is effective as of 31.01.2026. The contract is estimated at up to NOK 150 million per year and is defined as a very large contract (4) for the company.

«We are grateful for the trust that Equinor has placed in PSW Technology by exercising the first option of the frame agreement. This demonstrates our strong capabilities and reinforces our position as a reliable supplier in the industry. We remain committed to continuously improving our deliveries and operational excellence every day. Securing this agreement is an important milestone, and we look forward to building on this collaboration in the years to come”, says Pål Selvik, CEO at Scana ASA.

According to the agreement, PSW Technology will continue to supply automation and electrical services, mechanical maintenance, and welding at the Mongstad refinery.

“The successful execution of the first phase of the frame agreement is a testament to the dedication and expertise of our team. Their commitment to safety, efficiency, and operational excellence has been instrumental in delivering high-quality services to Equinor. We will continue to build on this foundation to drive even stronger results. We appreciate the trust that Equinor has placed in us and look forward to continuing this valued collaboration”, says Erlend Einevoll, Managing Director at PSW Technology.

• A sizeable contract is defined as between NOK 25 million and NOK 75 million.
• A substantial contract is defined to be between NOK 75 million and NOK 150 million.
• A large contract is defined to be between NOK 150 million and NOK 250 million.
• A very large contract is over NOK 250 million.

PSW Technology in brief 

PSW Technology 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. www.pswtechnology.no 

Photo credit: Nordhordaland Tekst & Foto