Servelec awarded contract by major UK gas supplier

21st Dec 2016 11:57

(ShareCast News) - UK-based Servelec has been awarded a contract by a major UK gas supplier to provide a remote operations solution for a gas platform in the North Sea by deploying a specially developed Servelec Controls system."This project marks a significant achievement for Servelec and further strengthens the Group's position with regards to winning additional contracts on this customer's other assets as well as with other OEMs," said chief executive Alan Stubbs.He said technology and software group Servelec was already in talks with many of those other OEMs about future opportunities.Referring to the latest contract, Servelec said work has now started on the project and was expected to contribute towards revenues in the current financial year."Following installation on the first platform by May 2017 there are options to extend the system to cover additional platforms," the company said.At about 11:44 GMT, shares in Servelec were up 10.8% to 277p.