Bergen, 24 October 2023: PSW Technology has signed an extension of their frame agreement with Odfjell Drilling AS for marine risers and subsea equipment services.

The agreement involves services for classification and testing of well control equipment for all the rigs within Odfjell Drilling AS’ portfolio. The contract consists of a fixed period of 4 years with a 2+2-year option. The value of the frame agreement is defined as a substantial contract (2) for the fixed period and large contract (3) if both options are exercised.

PSW Technology has since 2013 had in place a frame agreement for services defined and will continue the work for Odfjell Drilling AS with a new 4-year horizon from the start of fourth quarter 2023.

“In the operation of our state-of-the-art drilling rigs, making sure that we have competent vendors for maintenance of our well control equipment is crucial. We chose PSW based upon their experience and our collaboration, in addition to their competence, capacity and quality,“ says Jakob Korsgaard, Chief Operating Officer of Odfjell Drilling AS.

“We are very proud that Odfjell Drilling AS continues to utilize PSW Technology as partner for these services. We will do our out most to make sure that we keep on delivering high quality and cost-effective solutions for our customers,” says Pål Selvik, Chief Executive Officer of Scana.

(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