Synectics PLC Oil & Gas Contract Win
March 21 2019 - 3:02AM
RNS Non-Regulatory
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Synectics PLC
21 March 2019
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21 March 2019
Synectics plc
("Synectics" or the "Group")
Oil & Gas Contract Win
Synectics plc (AIM: SNX), a leader in the design, integration,
control and management of advanced surveillance technology and
networked security systems, announces that it has secured a
contract in the oil & gas sector.
The oil & gas market has been very difficult for the last
few years and has been characterised by mostly small-value
contracts for necessary additions and expansions to existing
sites.
This contract, which is expected to be worth around GBP1 million
during its life, is the largest new oil & gas order received by
the Company for a number of years and is due to be delivered
substantially in this financial year.
Working through a major European engineering company, Synectics
has been awarded the contract to provide linked surveillance
systems, based on its proprietary Synergy 3 software platform and
COEX camera stations, across multiple new facilities in the Middle
East. The operator is investing significantly in new facilities to
further ramp up and maintain sustainable oil production for a
national oil company.
Paul Webb, Chief Executive of Synectics, commented:
"The award of a project for new oil production facilities
supports our expectation of increased activity in this sector into
next year and beyond and reflects the strong reputation and market
presence we have maintained during recent challenging
conditions."
For further information, please contact:
Synectics plc Tel: +44 (0) 1527 850 080
Paul Webb, Chief Executive www.synecticsplc.com
email: info@synecticsplc.com
Stockdale Securities Tel: +44 (0) 20 7601 6100
Tom Griffiths / Henry Willcocks
Media enquiries:
Intelligent Conversation Tel: +44 (0) 161 212 1613
Claire Evans
claire@weareic.com
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END
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