Scana ASA – Scana company awarded frame agreement within subsea

06 Feb 2025 14:33 CET

Bergen, 6 February 2025: Scana owned Subseatec S AB has signed a frame agreement
with an international company within subsea technology. Subseatec will be
exclusive global supplier of steel parts for subsea production systems in
accordance with the framework description.

The frame agreement will commence in Q1 2025 and extend for a period of 3 years.


The frame agreement does not entail a minimum delivery obligation but based on
historical revenues related to the client and an expected pipeline over time, it
has an expected volume classified as a “sizeable contract” (1) related to the
agreement.

“The contract is an appreciation of our continuous development within the field
of parts for subsea production systems in high strength steel,” says Peter
Jansson, Managing Director in Subseatec S AB.

“This order signifies a strong recognition of Subseatec’s competitiveness,
technical expertise, and the company's reliability over time,” says Pål Selvik,
CEO, Scana ASA.


(1) A sizeable contract is defined as between NOK 25 million and NOK 75 million.


(2) A substantial contract is defined to be between NOK 75 million and NOK 150
million.

(3) A large contract is defined to be between NOK 150 million and NOK 250
million.

(4) A very large contract is over NOK 250 million.


For more information, please contact:

Pål Selvik, CEO, Scana ASA, +47 970 46 502

Peter Jansson, Managing Director, Subseatec AB, +46 70 668 2921


Scana in brief

Scana is an active industrial owner of technology and services to both the
energy and offshore industries. With an industrial history dating back to the
early 1900s, Scana has evolved to become a leader in technology and innovation.
This journey has provided a unique position to shape solutions for tomorrow,
driven by extensive industrial experience combined with quality and value
creation. Scana is headquartered in Bergen and has above 600 employees.
www.scana.no


Subseatec in brief

Subseatec S AB is one of the most experienced specialist companies in the world
on steel riser applications for the oil and gas industry. www.subseatec.se

More information:
Access the news on Oslo Bors NewsWeb site