Bergen, 21 February 2023:  Scana-owned PSW Technology has signed an agreement with an international subsea customer for deep-water BOP stack services.

The agreement involves services for modification, classification, and testing of a deep-water BOP stack. Work starts first quarter of 2023 and benefits from the company’s state of the art facilities at Mongstad. This is a sizable (1) contract for the company.

The agreement shows PSW’s unique expertise and services related to well control and drilling equipment for the rig market. The past 15 years PSW has collaborated with international drilling contractors on the maintenance of subsea and drilling equipment.

“The offshore rig market shows strong signs of recovery and PSW Technology is prepared and positioned to handle an increased activity level. We are grateful for the trust large international companies show us by giving us this type of contracts,” says Geir Knapskog, interim Managing Director of PSW Technology.  

PSW Technology is a leading provider of services and maintenance of BOP and well control equipment in the North Sea. I believe we are chosen for the experience and expertise we have in-house,“ says Oddbjørn Haukøy, CEO in Scana.

(1) A sizeable contract is defined to be between NOK 10 million and NOK 50 million.
(2) A substantial contract is over NOK 50 million.

Subsea blowout preventer (BOP) is a safety-related instrumented system that is used in underwater oil drilling to prevent the well to blowout.

For more information, please contact:
Oddbjørn Haukøy, CEO, Scana ASA, +47 911 71 914
Geir Knapskog, interim Managing Director, PSW Technology AS, +47 970 97 482

PSW in brief
PSW is a supplier of products, systems and services to energy companies and the maritime industry. The group’s multidisciplinary expertise, state-of-the-art facilities and strategic partnerships enable us 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. Our vision is to accelerate decarbonisation of the maritime and offshore sector by being a driving force in electrification and emission reduction solutions. Scana’s portfolio companies have a solid innovation and commercialisation history based on core competence in selected niches. Scana is headquartered in Bergen and has around 350 employees.

www.scana.no