PSW Technology secures major contract extension with Equinor

Scana ASA is pleased to announce that Equinor has exercised the first option of its frame agreement with Scana-owned PSW Technology. With an estimated value of up to 150 MNOK per year, and a total estimated value of up to 450 MNOK, the contract represents a significant milestone for PSW Technology. The contract is defined as very large (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.

As part of a strategic initiative to strengthen PSW Technology’s position in key market segments, Erlend Einevoll, Managing Director of PSW Solutions, a subsidiary of PSW Technology, has been appointed as the new Managing Director of PSW Technology.

Erlend is pleased to step into his new role as PSW Technology continues to build on its success and strengthen its partnership with Equinor.

“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.