Scana-owned Subseatec has signed a frame agreement with an international company within subsea technology to act as its exclusive global supplier of steel parts for subsea production systems.
The frame agreement will begin in the first quarter of 2025 and extend for a period of three years.
The frame agreement does not entail a minimum delivery obligation but based on historical revenues related to the client and an expected pipeline over time, Scana expects the volume to be classified as a sizeable contract.
For Scana, this means the contract value is between $2.2 million and $6.6 million.
“The contract is an appreciation of our continuous development within the field of parts for subsea production systems in high strength steel,” said Peter Jansson, Managing Director in Subseatec.