Oil and Gas technology play SRJ Technologies Group (ASX:SRJ) through its subsidiary, Air Control Entech (ACE), has inked a A$1.5 million deal with an unnamed global oil and gas supermajor for advanced inspection and emissions monitoring services on North Sea assets through the rest of the year.
Listen to the HotCopper podcast for in-depth discussions and insights on all the biggest headlines from throughout the week. On Spotify, Apple, and more.
The deal will operate under a fixed monthly invoicing model; there are additional revenue opportunities through ad-hoc call-offs during the year.
The agreement follows ACE’s ‘ACE365’ model deployment across client assets in 2024.
The proprietary model positions monitoring equipment with on-demand manpower and has proven effectiveness in reducing costs and enhancing offshore safety by minimising personnel exposure to hazardous environments.
The client also granted ACE ‘Super-User’ status for emissions monitoring technology, a designation that approves the use of the technology across the client’s global operations.
The tick of approval has opened a pathway for ongoing negotiations on potential contracts for emissions monitoring around the world.
More market news
Kowtow: “Biggest day in financial history” on Trump’s tariffs retreat
Meet GeoGeorge: The HotCopper poster so accurate he got hired as an analyst
ACE Managing Director Marc Whitton said, “Amid challenging times for the U.K. sector, where operators are under increasing pressure to reduce costs across all aspects, ACE stands out as a provider of alternative solutions that are not only safer and of higher quality, but also more cost-effective.”
SRJ has been trading at 2.3 cents in late morning trades.
Join the discussion: See what HotCopper users are saying about SRJ Technologies Group and be part of the conversations that move the markets.
The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please clickhere.