PSW Group has been awarded a new frame agreement for Capping Stack & Support Services with Wellesley Petroleum for the Norwegian sector. The agreement has a firm duration of 3 years with additional options and includes a new 15 K Capping Stack ready for operation in 2022.

Under the new agreement, which commenced upon direct continuation from the previous frame agreement which was entered into in 2017, PSW Group will be responsible for the provision of capping stack and related well control equipment and emergency response services. Following the new agreement PSW Group will expand its service offering by delivering a 15 K Capping Stack. The agreement may be applied to any license where Wellesley is the operator.

“We are very pleased to be the chosen partner for Wellesley Petroleum for another 3 years. Wellesley Petroleum has been an important catalyst and partner for the PSW Capping Stack segment. With their renewed trust and continued support for building a new 15 K Capping Stack PSW will further strengthen its contribution to the safety within the oil and energy industry both national and international”, says Oddbjørn Haukøy, CEO of PSW Group.

The current PSW Arctic Capping Stack and the new 15 K Capping Stack when completed will be 24/7-365 maintained and operationally prepared at the PSW Subsea & Drilling base at Mongstad. With its strategic storage facility close to one of Europe’s largest offshore supply bases, PSW Group will have the Capping Stack’s at quayside within 24 hours of notification and reach most offshore fields on the NCS within 1-5 sailing days.

A Capping Stack is a large well closure device that connects to the top of a blowout preventer (BOP) and is capable of sealing off a well if the BOP fails. As part of the Capping Stack agreement, PSW Group provide the maintenance, training and deployment along with a 24/7 duty team standing by.

For futher information, please contact:

Oddbjørn Haukøy, CEO of PSW Group
Telephone: + 47 91 17 19 14