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. 

• A sizeable contract is defined as between NOK 25 million and NOK 75 million. 
• A substantial contract is defined to be between NOK 75 million and NOK 150 million. 
• A large contract is defined to be between NOK 150 million and NOK 250 million. 
• 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