SRJ Technologies Group PLC (ASX:SRJ) has secured a three-year contract to supply the SRJ BoltEx product to PTTEP in Malaysia.
PTTEP HK Offshore, PTTEP Sabah Oil and PTTEP Sarawak Oil (together PTTEP) ran an extensive market survey and subsequent invitation-to-bid (ITB) for all potential ‘hot bolting’ products across the entire market.
SRJ successfully aligned with Eftech International as its local partner in Malaysia for the delivery of products and services for this ITB.
Contract call-off value of ~A$667,000
The contract incorporates the supply of BoltEx products, BoltEx spares kits, BoltEx extension kits, provision of local training of PTTEP staff and supervision for the use of the product in the field of operations.
The bid contract call-off value over three years is about A$667,000 (US$449k) (product only). The first Purchase order of A$154,000 (US$102,000) has been issued.
“Significant safety and efficiency benefits”
SRJ Technologies CEO Alexander Wood said: “SRJ are delighted to have been awarded this 3-year contract by PTTEP.
“The SRJ BoltEx® product has demonstrated its ability to provide significant safety and efficiency benefits to the energy industry.
“We look forward to working with Eftech to deliver this solution to PTTEP and support their operations over the coming years.”