Scana ASA – Equinor exercises first option of frame agreement with Scana company with an estimated value of up to NOK 450 million

12 Mar 2025 23:44 CET

Bergen, 12 March 2025: Equinor has exercised the first of two three-year options
under its frame agreement with Scana-owned PSW Technology AS. This option is
effective as of 31.01.2026. The contract is estimated at up to NOK 150 million
per year and is defined as a very large contract (4) for the company.

«We are grateful for the trust that Equinor has placed in PSW Technology by
exercising the first option of the frame agreement. This demonstrates our strong
capabilities and reinforces our position as a reliable supplier in the industry.
We remain committed to continuously improving our deliveries and operational
excellence every day. Securing this agreement is an important milestone, and we
look forward to building on this collaboration in the years to come”, says Pål
Selvik, CEO at Scana ASA.

According to the agreement, PSW Technology will continue to supply automation
and electrical services, mechanical maintenance, and welding at the Mongstad
refinery.

“The successful execution of the first phase of the frame agreement is a
testament to the dedication and expertise of our team. Their commitment to
safety, efficiency, and operational excellence has been instrumental in
delivering high-quality services to Equinor. We will continue to build on this
foundation to drive even stronger results. We appreciate the trust that Equinor
has placed in us and look forward to continuing this valued collaboration”, says
Erlend Einevoll, Managing Director at PSW Technology.

(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, +47 970 46 502

Erlend Einevoll, Managing Director, +47 950 41 599


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

PSW Technology in brief
PSW Technology is a supplier of products, systems and services to energy
companies and the maritime industry. The company’s multidisciplinary expertise,
state-of-the-art facilities and strategic partnerships enables the company to
meet industry requirements and customer challenges with safe, dependable, and
cost-effective solutions. www.pswtechnology.no

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