Synectics PLC - Sheffield, England-based provider of advanced security and surveillance systems solutions - Says it has won two new contracts totalling £2.3 million, for oil and gas projects in Qatar and Brazil. The Qatar contract, worth around £1.8 million, will see Synectics supply North Oil Co with its security camera station technology. This will occur in two phases, with the first in 2025 and the second in 2026. The second contract, worth £500,000, will see Synectics provide its security and surveillance solutions to a floating production storage & offloading vessel in Brazil.
Chief Executive Officer Amanda Larnder says: ‘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 [with North Oil Co]. 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.’
Current stock price: 317.78 pence, closed 1.5% higher in London on Monday
12-month change: up from 102.50p
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