Scana-owned Subseatec S AB has signed a frame agreement with an international company within subsea technology. Subseatec will be the exclusive global supplier of steel parts for subsea production systems in accordance with the framework description.
The frame agreement is scheduled to commence in Q1 2025 and will remain in effect for a period of three 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’ 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.
- A sizeable contract is defined as between NOK25m and NOK75m.
- A substantial contract is defined as between NOK75m and NOK150m.
- A large contract is defined to be between NOK150m and NOK250m.
- A very large contract is over NOK250m.
For more information, please contact:
Pål Selvik, CEO, Scana ASA, +47 970 46 502
Peter Jansson, managing director, Subseatec AB, +46 70 668 2921