PSW Technology establishes subsidiary in Namibia

PSW Technology expands internationally through establishment of strategically important subsidiary in Namibia.

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

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