REG - Synectics PLC - Contract Awards

SynecticsAnnouncement

25/11/2024 07:00

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RNS Number : 4105N  Synectics PLC  25 November 2024

 25 November 2024

 

 

Synectics plc

("Synectics" or the "Company")

 

Contract Awards

 

Synectics secures oil and gas contracts in Qatar and Brazil

 

Synectics plc (AIM: SNX), a leader in advanced security and surveillance
systems, is pleased to announce the award of two contracts, totalling £2.3
million, for oil and gas projects in Qatar and Brazil.

 

The contract in Qatar, which is worth approximately £1.8 million, will see
Synectics supply North Oil Company ("NOC"), which is responsible for 45% of
the country's oil production, with its innovative security camera station
technology. NOC is preparing to increase production at the offshore Ruya
Project, as part of the expansion of the Al-Shaheen field, Qatar's largest oil
field.

 

The COEX camera stations will be supplied in two phases, expected to occur in
2025 and 2026. The camera stations will be deployed for the surveillance of
critical locations on the offshore platforms and to monitor operational
activities to ensure the safety and security of NOC's employees and assets.

 

Separately, Synectics has been selected to provide its specialist security and
surveillance solutions for a Floating Production Storage and Offloading
("FPSO") vessel in Brazil with a contract value of approximately £0.5
million. The solution provided by Synectics will be integral to the vessel's
security operations and overall situational awareness, ensuring compliance
with rigorous offshore safety and performance requirements.

 

Amanda Larnder, Chief Executive Officer and Chief Financial Officer,
commented:

 

"Our track record of technical excellence within the oil and gas sector is
further evidenced by securing these two important contract wins.

 

"This is the third phase of the Al-Shaheen expansion awarded to Synectics, and
we are delighted that we continue to be the vendor of choice on this
prestigious project. We look forward to working with North Oil Company and
continuing to strengthen our long-standing relationship.

 

"The award of the FPSO vessel represents another key milestone for Synectics
in supporting critical offshore operations with innovative and reliable
technology tailored to meet the demands of the global energy sector."

 

For further information, please contact:

 

 Synectics plc                                                             Tel: +44 (0) 114 280 2828

 Amanda Larnder, Chief Executive Officer and Chief Financial Officer       www.synecticsplc.com

                                                                         (https://url.avanan.click/v2/___http:/www.synecticsplc.com___.YXAxZTpzaG9yZWNhcDphOm86NTYwYTllNmRlNmEwMDZmMWYwNTkzZGIxYTRhYzMwZGI6NjpmZDdmOjU4MjU3MDliNWJmOWIyMGFjMjkxZGZhYzcwNzk1ZjUxY2FkNGM5NWQyYWU4ODAxMTUxOTg3ZDc1ZmNkYjk3NWI6cDpG)
 Claire Stewart, Company Secretary

 email: info@synecticsplc.com (mailto:info@synecticsplc.com)

 Shore Capital                                                             Tel: +44 (0) 20 7408 4090
 Corporate Advisory - Tom Griffiths / David Coaten / Rachel Goldstein

 Corporate Broking - Fiona Conroy

 Vigo Consulting                                                           Tel: +44 (0) 20 7390 0230

 Jeremy Garcia / Fiona Hetherington / Peter Jacob

 synectics@vigoconsulting.com (mailto:synectics@vigoconsulting.com)

 

About Synectics plc

 

Synectics (AIM: SNX) is a leader in advanced security and surveillance systems
that help protect people, property, communities, and assets around the world.

 

The Company's expertise is in providing solutions for specific markets where
security and surveillance are critical to operations. These include gaming,
oil and gas, public space, transport, and critical infrastructure.

 

Synectics has deep industry experience in these markets and works closely with
customers to deliver solutions that are tailored to meet their needs.
Technical excellence, combined with decades of experience and long-standing
customer relationships, provides fundamental differentiation from mainstream
suppliers and makes the Company a stand-out in its field.

 

Find out more at www.synecticsplc.com
(https://url.avanan.click/v2/___http:/www.synecticsplc.com___.YXAxZTpzaG9yZWNhcDphOm86NTYwYTllNmRlNmEwMDZmMWYwNTkzZGIxYTRhYzMwZGI6NjpmZDdmOjU4MjU3MDliNWJmOWIyMGFjMjkxZGZhYzcwNzk1ZjUxY2FkNGM5NWQyYWU4ODAxMTUxOTg3ZDc1ZmNkYjk3NWI6cDpG)

 

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