Bergen, 27 June 2024: Scana-owned PSW Technology is following key customers
including Odfjell Drilling and Northern Ocean internationally and has
established a strategically important subsidiary in Namibia. 

Recent deepwater oil discoveries off the Namibian coast, coupled with ambitious
drilling plans from international operators, are positioning Namibia as an
exploration hotspot. PSW Technology`s establishment is driven by expected
deliveries of riser maintenance and the potential of providing other services
from PSW Technology's portfolio including capping stack services. 

"This strategic establishment is important for meeting our customers' demand to
deliver our high-quality services worldwide, especially offshore Namibia. This
is based upon the forecasted high activity here", says Richard Cornell, Managing
Director of PSW Technology AS.  


(1) A sizeable contract is defined to be between NOK 20 million and NOK 50
million. 
(2) A substantial contract is between NOK 50 million and NOK 150 million. 
(3) A large contract is over NOK 150 million.


For more information, please contact:
Pål Selvik, Chief Executive Officer, Scana ASA, +47 970 46 502
Richard Cornell, Managing Director, PSW Technology AS, +47 952 31 652

PSW Technology in brief
PSW Technology is a supplier of products, systems and services to energy
companies and the maritime industry. The company's multidisciplinary expertise,
state-of-the-art facilities and strategic partnerships enables the company to
meet industry requirements and customer challenges with safe, dependable, and
cost-effective solutions. www.pswtechnology.no

Scana in brief
Scana is a listed industrial owner company in the ocean industries creating
value through active ownership in market-leading portfolio companies. Scana is
headquartered in Bergen and has around 500 employees. www.scana.no