PSW Technology Renews Subsea Services Deal with Rig Operator

(Credit: PSW Technology)

Drilling industry services provider PSW Technology, owned by Norwegian company Scana, has signed signed a renewal of a frame agreement with an international rig company for subsea support services.

The framework agreement will begin in the first quarter of 2025 and extend for a period of two years.

The framework agreement does not entail any delivery obligations, but specifies a maximum delivery volume classified as a sizeable-scale contract, which means it is in the rage of $1.8 million and $4.5 million.

“We appreciate the extension of the framework agreement and the trust it represents. We look forward to continuing our strong collaboration and are noticing increased demand in the subsea market,” said Richard Cornell, Managing Director of PSW Technology.