PSW extends contract with Odfjell for marine risers, subsea equipment services

Offshore staff

BERGEN — PSW Technology has signed an extension of its frame agreement with Odfjell Drilling AS for marine risers and subsea equipment services.

The agreement involves services for classification and testing of well control equipment for all the rigs within Odfjell Drilling AS’ portfolio. 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 (between NOK 50 million [$4.4 million] and NOK 150 million [$13.3 million]) for the fixed period and large contract (more than NOK 150 million) if both options are exercised.

PSW Technology has had a frame agreement in place since 2013 for services defined, and it will continue the work for Odfjell Drilling with a new four-year horizon from the start of fourth-quarter 2023.

In June 2022 Odfjell Drilling awarded PSW Technology a one-year extension of its frame agreement to maintain and recertify marine riser and subsea equipment for all the Bergen-based contractor’s rigs.

10.26.2023