AVN secures multi million dollar contract

January 19, 2023 (MLN): Avanceon (PSX: AVN) 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, the company filing on PSX showed today. 

The project will see Avanceon provide state-of-the-art solutions to nearly 184 wells in the first phase.

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.

Avanceon will partner with World Class OEMs for the execution of this project. Avanceon’s long service history, strong project references, and technically sound and innovative solutions played a major role in acquiring this project.

The company will be conducting a HAZOP study before the start of this project and comply with all QHSE and local authority requirements to ensure safety, quality, and environmental issues. 

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