Scana Subsea AB

What Scana Subsea AB does

Subseatec S AB (formerly Scana Subsea AB) is a specialist supplier of forged steel riser joints and subsea equipment for the offshore oil and gas industry, headquartered in Kristinehamn, Sweden. The company designs, engineers, and supplies critical riser components—including stress joints, tension joints, slick joints, transition joints, connectors, well heads, BOP bodies, flanges, and pipes—for deep-water developments serving major international operators. Operating as a wholly-owned subsidiary of the publicly listed Norwegian industrial group Scana ASA (Oslo Stock Exchange: SCANA), Subseatec traces its metallurgical heritage to a Swedish steel works founded in 1656 and operates an asset-light model that combines in-house engineering and project management with outsourced forging, machining, welding, and coating through Swedish steel producers and qualified partners.

The company's technology is grounded in specialized metallurgy and forging of low-alloyed steels including ASTM A182 F22, AISI 4330MOD, and ASTM A694 F65, with yield strengths ranging from 75 ksi to 120 ksi. Core capabilities include production of components up to 19 meters in length and 30 tons in weight, including corrosion-resistant internal ID cladding of long forged riser parts. A premium inventory of forged bar stock in dimensions from OD 200mm to OD 1200mm (4:1 forging ratio) supports rapid delivery. The Durabler business area, launched in 2023 and officially inaugurated in April 2024, provides advanced fracture mechanics, fatigue testing, material selection, and process optimization services from the Kristinehamn facility.

Subseatec operates a sales-led, project-based business model with manufacturing outsourced to Swedish steel producers while Subseatec retains engineering, procurement, contract management, and supply chain coordination. Pricing is quote-based and not publicly disclosed; under Scana ASA's contract classification, typical contracts range from NOK 25-75 million ('sizeable') to over NOK 250 million ('very large'). The customer base comprises major international energy operators—Shell, Equinor, Chevron—and the company holds approved vendor status with SHELL, Equinor, Chevron, BGHE, and TechnipFMC. Geographic reach spans the US Gulf of Mexico, Malaysia/Southeast Asia, and the North Sea, with active contract wins announced through 2026 and a 3-year frame agreement providing multi-year revenue visibility from Q1 2025.

Name

Scana Subsea AB

Legal name

Subseatec S AB

Website

https://subseatec.se

Company type

Private

Founded year

2009

Operating status

Operating

Headcount range

11–50 employees

Short description

Subseatec S AB designs and supplies forged steel riser joints and subsea equipment—including stress joints, tension joints, connectors, and well heads—for major international oil and gas operators on offshore deep-water developments worldwide.

Ownership category

akta.pro rank

Product category

Subsea oil and gas equipment (forged riser joints and components)

NAICS

Oil and Gas Field Machinery and Equipment Manufacturing (333132), Fabricated Pipe and Pipe Fitting Manufacturing (332996)

SIC

Oil & Gas Field Machinery & Equipment (3533), Fabricated Plate Work (Boiler Shops) (3443)

akta.pro primary industry

Subsea Construction & IMR Vessel Newbuilds (CSV, DSV, ROV Support) (IMAJACAD)

Keywords

• Subsea riser components
• Forged steel joints
• Offshore oil and gas equipment
• Subsea production systems
• Deepwater drilling components

Headquarters

HQ city

Kristinehamn

HQ country

Sweden

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Supply Chain, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Riser Products and Subsea Components: Revenue generated from manufacturing and supplying specialized subsea riser components including stress joints, tension joints, slick joints, connectors, bodies, well heads, BOP bodies, and forged bar stock to oil and gas operators and EPC contractors globally.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Scana Subsea AB (trading as Subseatec) designs, engineers and supplies forged steel subsea riser joints and related components (stress joints, tension joints, slick joints, connectors, adapters, well heads, BOP bodies, pipes, flanges, wyes and tees) plus forged bar stock in grades F22, 4330MOD and F65 to international oil and gas operators for deep-water offshore developments. The company also runs the Durabler materials testing laboratory and provides project and supply chain management, material engineering, ID cladding and material sourcing services. Manufacturing is carried out by Swedish steel producers and qualified partners under Subseatec's direction.

Product overview

Subseatec is a specialist subsea product company offering advanced subsea applications primarily for the oil and gas industry. The product portfolio centers on Risers—a comprehensive range of subsea riser components including stress joints, tension joints, slick joints, transition joints/crossovers, riser connectors, adapters, bodies, well heads, XT main blocks, BOP bodies, pipes, flanges, and wyes/tees. Supporting the riser product line is Forged bar stock (grades F22, 4330MOD, F65) providing raw materials with yield strengths from 75 to 120 ksi. The Durabler service offering provides advanced material testing, material development, and consulting in welding and material technology. Additional services include project & supply chain management, material engineering, ID cladding of main bores, and material sourcing. The company operates with manufacturing through Swedish steel producers and external partners, delivering turnkey riser joints with engineering, procurement, machining, welding, coating, assembly, and testing.

Differentiator

Problem solved

Functional benefit

Brands

• Durabler: A concept for material testing and material development, offering fracture toughness testing, fatigue testing, material selection, process parameters, and simulations. Located in Kristinehamn with advanced testing facilities.

Products and services

• Risers (subsea riser components) Core product line of forged and machined subsea riser components for offshore oil and gas deep-water developments, including stress joints, tension joints, slick joints, transition joints/crossovers, riser connectors, adapters, bodies, well heads, XT main blocks, BOP bodies, pipes, flanges, and wyes and tees. Sold to international oil and gas operators and EPC contractors for subsea production systems on floating units (TLP, SPAR, semi-submersibles) and fixed platforms.
• Forged bar stock

Quantifiable outcome

• Components manufactured up to 19m length and 30 tons weight
• +2 more outcomes

Named customers5 records

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Two partnerships are on record, tiered core.

• Wear Solutions AScoreStrategic or Co-development Partner · 1 January 2023Scana ASA acquired 50% of shares in Wear Solutions AS in 2023 and entered into a joint venture with shared ownership together with Certina Invest AS. Subseatec works closely with Wear Solutions on various offshore projects, strengthening collaboration and expertise.
• Swedish Steel Producing CompaniescoreOthersManufacturing of products is carried out by steel producing companies in Sweden. Subseatec maintains established partners and vendors for services outside the group.

Scale indicators4 records

Recent moves7 records

Expansion highlights5 records

Broad incumbents

• National Oilwell Varco (NOV): Largest global O&G equipment manufacturer with broad portfolio spanning drilling, completions, and subsea equipment. Competes with Subseatec in subsea wellhead, BOP, and riser-adjacent categories but as part of a much wider portfolio.

Direct peers

• Oceaneering International: Provider of subsea intervention tools, ROVs, and subsea hardware including connectors and specialized deepwater components. Comparable in serving the same IOC customer base and offshore project workflows as Subseatec.
• Forgital Italy: Italian specialty forging company producing large forged rings and shafts for O&G, power, and industrial markets including subsea riser components. Comparable niche player with overlapping forging capabilities for deepwater applications.
• Dril-Quip: Houston-based manufacturer of subsea wellhead equipment, connectors, and BOP systems for offshore oil & gas. Directly comparable to Subseatec's well heads, XT main blocks, and BOP bodies product line for deepwater developments.
• Subsea 7: Subsea engineering, construction, and services contractor active in SURF and subsea installation. Competes indirectly through procurement of riser/forged components and overlaps with Subseatec on major IOC deepwater projects.
• Ellwood Group: US specialty steel foundry and forging group producing large forged components for defense, O&G, and industrial markets including subsea riser applications. Comparable niche forging peer competing for similar IOC orders.
• Vallourec: Global manufacturer of seamless OCTG, line pipes, and forged products for oil & gas including subsea riser applications. Comparable as a steel forging and pipe producer with overlapping capability in deepwater riser components.
• Oil States International: Manufactures subsea wellhead systems, connectors, and produced water sand-management equipment for offshore O&G. Directly comparable product portfolio in subsea wellhead and completion equipment adjacent to Subseatec's offerings.
• TechnipFMC: Global subsea equipment and services leader; manufactures subsea production systems, connectors, and riser components. Listed as both a customer (EPC) and adjacent supplier to Subseatec, with significant overlap in deepwater project scope.
• Aker Solutions: Norwegian subsea production equipment manufacturer with riser, wellhead, and subsea tree offerings serving North Sea, GoM, and Brazil deepwater markets. Strong overlap with Subseatec in serving Equinor and other North Sea-focused IOCs.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/subseaec-ab

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Scana Subsea AB