13th Apr 2023 12:13
Synectics PLC - Sheffield, England-based advanced security and surveillance provider - Gets a contract award to provide specialist camera stations for Saudi Arabian Oil Co's Zuluf development programme, worth GBP3.5 million. Says the deal will be delivered by the end of the company's financial year on November 30. The Zulu field is about 40 kilometres off Saudi Arabia's northeast coast.
Says the Process CCTV system will offer safety monitoring and surveillance covering critical locations on the platforms to "monitor process activities and protect Saudi Aramco's employees and assets".
Chief Executive Paul Webb says: "Activity levels in the oil & gas market are now higher than we have seen for some years, and this large contract follows a number of smaller projects already received this year. The dedicated team at our operations centre continues to work closely with our supply chain partners to ensure that we can meet the increased demand we anticipate in this market in the near future."
Current stock price: 115.15 pence each, up 2.4% on Thursday around midday in London
12-month change: down 9.6%
By Xindi Wei, Alliance News reporter
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