Scana company scores contract with 'international subsea' firm

Scana-owned PSW Technology has entered into an agreement with an undisclosed ‘international subsea customer’ for deep-water blowout preventer (BOP) stack services.

The agreement includes services for the modification, classification, and testing of a deep-water BOP stack.

PSW plans to take advantage of its facilities at Mongstad, Norway, to carry out the work with the kick-off slated for the first quarter of 2023.

The Norwegian company described the contract as sizable, ranging from NOK 10 to NOK 50 million ($971.834 to $4,8 million).

Geir Knapskog, interim Managing Director of PSW Technology, said: "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 contract."

For the most recent company-related news, it is important to note that PSW Technology signed an agreement with offshore drilling contractor Northern Ocean Operations for the sale of a complete marine riser system for ultra-deep-water operations in December 2022.

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