Nexans closes groundbreaking service level contract with Equinor

Nexans closes groundbreaking service level contract with Equinor

_PRESS RELEASE_

• Nexans and energy company Equinor strengthen their long-term collaboration with a four-year contingency and preparedness contract.
• Nexans' unique and extensive repair expertise covers all types of existing cables
• The contract includes assistance from a team of Nexans experts and the provision of a vessel to meet the intervention requirements.
  

Paris, 22 April 2024 – Nexans, leader in the design and manufacturing of cable systems and services has signed a contingency and preparedness contract with international energy company Equinor.

As an international energy group committed to creating long-term value for a low-carbon future. Equinor has a long-standing relationship with Nexans which has resulted in a number of pioneering projects.

Nexans is extending this collaboration through a 4-year agreement that includes turnkey repair services for various cable systems. Equinor will manage and operate the contract on behalf of the Pipeline Repair and Subsea Intervention (PRSI) Pool members. The agreement covers approximately 3,000 km of cable.

To ensure Equinor's assets' normal functioning, Nexans will provide its unique expertise of performing complex turnkey repairs on all types of cables (XLPE, mass impregnated or oil-filled cables).

In the case of a cable system failure, Nexans will offer its expertise of installing and maintaining submarine cable systems by mobilizing highly-skilled teams to assess the fault and perform any necessary repairs. Nexans is committed to finding the most suitable solution and intervene as quickly as possible, ensuring continuity of power transmission. The areas of operation are located in Northern Europe but can be broadened according to the clients' needs.

Pascal Radue, EVP of Nexans' Generation and Transmission Business Group: “Equinor is a forward-looking company with strong environmental and social values. The approach our two companies take in working together is an example of effective partnership. The teams are dedicated to delivering an assistance service tailored to Equinor and the PRSI pool members' requirements. ”

About Nexans

For over a century, Nexans has played a crucial role in the electrification of the planet and is committed to electrifying the future. With approximately 28,500 people in 41 countries, the Group is paving the way to a new world of safe, sustainable and decarbonized electricity that is accessible to everyone. In 2023, Nexans generated 6.5 billion euros in standard sales. The Group is a leader in the design and manufacturing of cable systems and services across four main business areas: Power Generation & Transmission, Distribution, Usage and Industry & Solutions. Nexans was the first company in its industry to create a Foundation supporting sustainable initiatives, bringing access to energy to disadvantaged communities worldwide. The Group is recognized on the CDP Climate Change A List as a global leader on climate action and has committed to Net-Zero emissions by 2050 aligned with the Science Based Targets initiative (SBTi).

Nexans. Electrify the future.

Nexans is listed on Euronext Paris, compartment A.
For more information, please visit www.nexans.com

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• 2024-04-22_pr-Nexans closes groundbreaking service level contract with Equinor