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2025-05-13 08:04:20
Soiltech ASA (OSE: STECH)
Sandnes, Norway 13 May 2025
Soiltech ASA has been awarded contracts with OMV (Norge) AS and Northern Ocean
Wind AS for drilling waste management on the harsh environment drilling rig
Deepsea Bollsta, which is operated by Odfjell Drilling. The contracts are
scheduled to commence in the second quarter of 2025, with an estimated firm
duration of 45 - 105 days. Combined, the contracts are estimated to be a large
contract¹ for Soiltech.
Soiltech has previously been awarded a contract with Northern Ocean for drilling
waste management on Deepsea Bollsta for Equinor, with an expected start in the
second half of 2025, following the completion of the work for OMV Norge, as
announced on 10 January 2025.
Soiltech will provide solid waste handling and processing of liquid fluids on
Deepsea Bollsta, as well as the onshore handling of the drilling waste.
Soiltech's SmartTransferTM system enables the cuttings containment and transfer
solutions on the rig to be tailor made to the clients' requirements for handling
capacity and drilling efficiency.
"We are grateful to OMV Norge and Northern Ocean for the trust they have placed
in us," says Glenn Åsland, COO of Soiltech. "By combining offshore cuttings
handling, fluid processing, and onshore waste management, we offer a highly
efficient and cost-effective solution tailored to our clients' operational
needs."
About Soiltech
Soiltech is an innovative technology company specializing in the treatment,
recycling and sustainable handling of contaminated water and solid waste on
site. Our technologies enable cost savings and lower CO2 emissions through waste
reduction, waste recovery and reuse.
Soiltech operates world-wide and is headquartered in Norway.
This information is subject to the disclosure requirements pursuant to Section
5-12 the Norwegian Securities Trading Act.
____________
1. Contract sizes
A sizable contract has an estimated value of MNOK 5 - 10
A substantial contract has an estimated value of MNOK 10 - 20
A large contract has an estimated value above MNOK 20
Contact:
Tove Vestlie, CFO Telephone: (+47) 90 69 06 48
Jan Erik Tveteraas, CEO Telephone: (+47) 95 21 49 25