August 26, 2021 (MLN): Avanceon Limited and its wholly-owned subsidiary Octopus Digital Ltd will combine their respective expertise to deploy state-of-the-art fuel retail automation solution on multiple sites for Gas & Oil Pakistan Limited (GO).
The fuel retail solution will help GO maintain and streamline all elements of the forecourt environment by taking wet stock inventory from tanks, sales, and delivery reconciliation to detect and reduce fuel losses, maximize uptime, and increase productivity and efficiency.
The total cost of the project is Rs32mn. The scope of the work includes 1) Engineering, procurement, installation, and commissioning of retail automation system on multiple fuel retail sites; 2) The retail automation system will include auto tank gauging and sales monitoring modules; 3) Digitalization of the forecourt with the help of Fintech Fuel by Octopus Digital Ltd; 4) Complete system integration with SAP.
The project is in its initial stages and the company is expected to complete it within the agreed timeline.
GO is one of the major oil and gas players with a network of over 850 outlets across Pakistan and storage depots and terminals in Punjab, Sindh, KPK, and Balochistan.
The oil marketing company is primarily engaged in downstream petroleum business which includes marketing, storage, transportation, and supply operations.
Avanceon is already engaged with another fuel retail giant in Pakistan to streamline operations however, this project marks Octopus Digital Ltd's entry into the fuel retail sector. Octopus Digital Ltd is poised to be listed on the Pakistan Stock Exchange with its planned IPO confirmed on September 16 & 17, 2021.
