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February 21, 2023

PSW Technology Nets 'Sizable' Deepwater BOP Stack Services Contract

©PSW Technology

©PSW Technology

Norwegian offshore services and equipment provider PSW Technology has secured a "sizable" contract for deep-water BOP stack services.

Subsea blowout preventer (BOP) is a system used in offshore oil drilling to prevent well blowouts.

Under the deal announced Tuesday, PSW Technology, a subsidiary of Oslo-listed Scana, will provide services for the modification, classification, and testing of a deepwater BOP stack, for an unnamed "international subsea customer."

The work under the contract will start in the first quarter of 2023. Scana said the contract was a sizable one, meaning it is worth between NOK 10 million (currently at $970,865) and NOK 50 million (currently around $4,85 million).

Scan said that the contract showed PSW’s "unique" expertise and services related to well control and drilling equipment for the rig market, where the company has, over the past 15 years, collaborated with international drilling contractors on the maintenance of subsea and drilling equipment.

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 contracts."

"PSW Technology is a leading provider of services and maintenance of BOP and well control equipment in the North Sea. I believe we are chosen for the experience and expertise we have in-house,“ says Oddbjørn Haukøy, CEO of Scana.

The February 2024 edition of Marine Technology Reporter is focused on Oceanographic topics and technologies.
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