Sweden-headquartered Subseatec, owned by Scana, has secured a frame agreement with an undisclosed client under which it will deliver steel parts for subsea production systems for a period of three years.
As part of the frame agreement that will begin in Q1 2025, Subseatec will be the exclusive global supplier of steel parts for subsea production systems for what it says is an international company.
According to the Swedish firm, the 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” , meaning it is worth between NOK 25 million and NOK 75 million (approximately $2.2 million and $6.7 million).
“The contract is an appreciation of our continuous development within the field of parts for subsea production systems in high strength steel,” said Peter Jansson , Managing Director in Subseatec S AB.
Pål Selvik , CEO of Scana, added: “This order signifies a strong recognition of Subseatec’ s competitiveness, technical expertise, and the company’s reliability over time.”