PSW Technology Secures 3-Year Deal with Norwegian Oil Firm for Capping Stack Services

Scana's PSW Technology has signed a frame agreement with an unnamed Norwegian oil and gas operator for Capping Stack & Support Services. 

The contract consists of a fixed period of 3 years with a 2+2-year option. The value of the frame agreement is defined as a sizable contract if both options are exercised.

For Scana, a sizable contract is defined to be between NOK 20 million and NOK 50 million.

The company will be responsible for the provision of capping stack and related well control equipment, and emergency response services. The contract period will start in the fourth quarter of 2023.

“We are very pleased to be given trust which will further strengthen the contribution to the safety within the oil and energy industry both national and
international. With PSW Technology’s strategic storage facility close to one of Europe’s largest offshore supply bases, PSW Technology will have the Capping Stack’s at quayside within 24 hours of notification and reach most offshore fields on the NCS within 1-5 sailing days,” says Richard Cornell, Managing Director in PSW Technology.