Scana Company Awarded Contract for Deep-Water Riser System

Scana-owned PSW Technology has signed an important agreement with Northern Ocean Operations Ltd. (“Northern Ocean") for a deep-water riser system.

The agreement involves the sale of a complete marine riser system to Northern Ocean for Ultra deep- water operations. The work also includes project management, inspection, repair and logistics of the marine riser system. Work starts immediately and benefits from the company’s core services of logistics, recertification, preparation, and maintenance. Equipment and services will be delivered from PSW’s modern facilities at Mongstad. This is a substantial (2) contract for the company.

“The agreement demonstrates PSW’s unique expertise and services related to well control and drilling equipment for the rig market. PSW has collaborated with international drilling contractors since 2010 on the maintenance of subsea and drilling equipment. PSW is grateful for the trust, being the chosen supplier for this important project,” says CEO in Scana, Styrk Bekkenes.

“The rig market is improving globally, and PSW Technology is well positioned to service the growth and increases in activity levels. It is a great recognition that Northern Ocean has awarded this contract to PSW Technology,” continues PSW Technology’s Managing Director Tommy Johnsen.

“Together with PSW and its manager, Northern Ocean will be able to deploy one of the world’s most advanced drilling units into an emerging Ultra deep-water drilling market. We continue to leverage our strong, collaborative relationships with companies who are solution oriented and allow us to deliver safe performance on our rigs.” says Scott McReaken, CEO of the Northern Ocean group.

(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.