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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.
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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.
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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.
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