Wedoany.com Report-Oct 31 , The framework agreement includes subsea services and will commence in the first quarter of 2025, extending for a period of two years.

According to PSW Technology, it does not entail any delivery obligations but specifies a maximum delivery volume classified as a sizeable-scale contract, defined to be between NOK 20 million and NOK 50 million (between approximately $1.8 million and $4.5 million).

“We appreciate the extension of the framework agreement and the trust it represents. We look forward to continuing our strong collaboration and are noticing increased demand in the subsea market,” said Richard Cornell, Managing Director of PSW Technology.

Last October, PSW Technology secured an extension of its frame agreement with Odfjell Drilling for the provision of marine risers and subsea equipment services, covering the classification and testing of well control equipment for all the rigs within Odfjell’s portfolio.

PSW Technology has had in place a frame agreement for the services since 2013, and the extension from October 2023 saw it continue working for Odfjell Drilling from the start of the fourth quarter of 2023.