- SRJ Technologies (SRJ) secured a $688,000 purchase order from Abu Dhabi National Oil Company
- The order relates to Phase 2 of the ‘fast track’ contract between the two parties, with Phase 2 relating to the manufacture and delivery of pipeline asset integrity solutions
- SRJ’s pipeline, flange, and valve leak mitigation systems will be manufactured and installed early this year
- The new purchase comes as the company completed Phase 1 of the contract which covers the site survey and design engineering, in return for $160,000
- SRJ shares are trading flat today at 43 cents
SRJ Technologies (SRJ) has secured a $688,000 purchase order from Abu Dhabi National Oil Company (ADNOC) for phase 2 of the ‘fast track’ contract.
The phase 2 contract is for the manufacturing and delivery of pipeline asset integrity solutions to SRJ’s Abu Dhabi partner, EuroMechanical, who will undertake installation on Das Island.
SRJ’s pipeline, flange, and valve leak mitigation systems will be manufactured and installed with completion expected early this year.
The new purchase comes as the company completed phase 1 of the contract which covers the site survey and design engineering. It was valued at $160,000.
ADNOC is the world’s 12th largest oil company by production, producing over 3 million barrels of oil per day.
SRJ believes the mix of mature and new assets, combined with ADNOC’s commitment to the reduction of emissions, provides a significant market for its asset integrity products and consulting services.
Company shares ended Tuesday’s trading session flat at 43 cents.