Avanceon Secures Multi-Million Dollar Contract From Leading Oil & Gas Company!
Avanceon has secured a multi-million-dollar contract to ensure seamless communication and asset monitoring for one of the largest Oil & Gas companies in the world.
In a notice to the Pakistan Stock Exchange, the company said that the project will see Avanceon provide state-of-the-art solutions to nearly 184 wells in the first phase.
In its stock filing, the company said that this contract execution gives a pathway for a positive impact on the group’s business and value for its shareholders.
The EPC contract with an estimated value of $5 million will have Avanceon install wired/wireless transmitters for the monitoring of the wells’ annulus pressure and further transmitting signals to the headquarters using GSM/GPRS technology through mobile networks. The project will cover the majority of the well sites spread across several assets.
The project is in its initial stages and Avanceon expects to complete it by December 2023.
The company has executed several projects with the same customer previously. Avanceon fully understands the existing installation, software, firmware, hardware, warranties, and guarantees which will play a vital role in the integration and seamless execution & implementation, it said in a statement.