Scana-owned PSW Technology has secured an extension of its frame agreement with Odfjell Drilling for the provision of marine risers and subsea equipment services.
The agreement includes services for the classification and testing of well control equipment for all the rigs within Odfjell Drilling’s portfolio.
PSW Technology has had in place a frame agreement for the services since 2013 and will continue the work for Odfjell Drilling from the start of the fourth quarter of 2023.
The contract consists of a fixed period of four years with a 2+2-year option.
The value of the frame agreement is defined as a substantial contract, meaning it is worth between NOK 50 million and NOK 150 million ($4.5 million and $13.6 million), for the fixed period and a large contract, over NOK 150 million, if both options are exercised.
“In the operation of our state-of-the-art drilling rigs, making sure that we have competent vendors for maintenance of our well control equipment is crucial. We chose PSW based upon their experience and our collaboration, in addition to their competence, capacity and quality,” said Jakob Korsgaard , Chief Operating Officer of Odfjell Drilling.