NCT and TDW, previously PSI, have since their start-up been working closely to refine and supply surface treatment systems for their Smart Plug concept.
NCT sees the contract renewal as a crucial instrument to maintain working relations and develop technological expertise, with the view of obtaining contracts in an expanding, global subsea market.
The contract runs to 2010.
NCT has in parallel to this signed a number of other contracts within the subsea area for the supply of advanced surface treatment.
To NCT the contracts are strategically important and contribute to consolidating the unit's position as a supplier of advanced surface treatment to the subsea market.
Overall the contracts have a value of around 15 million NOK.
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