MMT Awarded Three-year Contract, with two one-year options, for Nord Stream AG

MMT Sweden today announced the award of a major² three-year contract, with two one-year options, for Nord Stream AG. The yearly inspections, to be executed through our cooperation with Reach Subsea, include visual and acoustic survey services critical for the pipeline integrity assessments, covering inspection of the European sections of both lines of the Nord Stream Pipeline System running from Russia to Germany.

This award follows on from the original contract awarded in 2017. One of the key advantages from this continued collaboration is the development resulting from the experiences gained during the last four years. This allows for significantly reduced costs and increased efficiency by high-speed survey operations and automated data processing workflows.

Project Management, engineering, remote and post-processing will be performed from MMT Sweden’s office in Gothenburg, Sweden. Offshore operations will occur in Q1-Q2 2021.

Per-Olof Sverlinger, CEO of MMT Sweden said: ”After four years of successful inspections of the Nord Stream Pipelines, we are very proud to again be the chosen contractor and continue to bring our technology to the Baltic Sea, increasing the efficiency and cost reductions for our clients. In cooperation with our partner Reach Subsea, we will continue to support Nord Stream in their safe and environmentally friendly energy transport to Europe.”

**CLARIFYING NOTE**

The above mentioned contract award and all associated services does not in any way include contracts, operations or services for the Nord Stream 2 pipeline project.

Notes:

¹ MMT defines a sizeable contract as being between EUR 2 million and EUR 5 million.

² MMT defines a substantial contract as being between EUR 5 million and EUR 10 million.

³ MMT defines a major contract as being above EUR 10 million.