SRJ Technologies Begins Revenue-Generating Field Operations in Dubai Under Three-Year Asset Integrity Agreement

MT Newswires Live
Oct 08

SRJ Technologies (ASX:SRJ) mobilized and began revenue-generating field operations under its previously disclosed three-year asset integrity agreement with Dubai Petroleum, with the first operational call-off underway across Dubai Petroleum's onshore assets, according to a Thursday Australian bourse filing.

The agreement operates on a call-off basis and has an indicative opportunity pipeline of up to $4.4 million over an initial term of three years, with an option to extend for an additional two years, the filing said.

The company said its recently announced AU$222,000 Angola floating production storage and offloading (FPSO) vessel inspection contract is expected to mobilize in October, while it is also finalizing a framework agreement with Fulkrum to pursue wider global inspection and asset integrity opportunities.

The value of an existing emissions quantification program for an oil and gas supermajor has increased to 138,000 pounds sterling, from 79,000 pounds sterling, reflecting an expanded scope of work, the filing said.

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