Synectics secures £3.5m contract with Saudi Aramco

13th Apr 2023 10:04

(Sharecast News) - Security and surveillance systems group Synectics has secured a contract worth approximately £3.5m that will see it supply specialist camera stations for Saudi Aramco's Zuluf development programme.

Synectics said on Thursday that it will deliver the specialist camera stations to Zuluf, located approximately 40km off Saudi Arabia's northeast coast, by the end of the financial year ended 30 November.

Chief executive Paul Webb said: "Activity levels in the oil & gas market are now higher than we have seen for some years, and this large contract follows a number of smaller projects already received this year.

"The dedicated team at our operations centre continues to work closely with our supply chain partners to ensure that we can meet the increased demand we anticipate in this market in the near future."

As of 1000 BST, Synectics shares were up 5.78% at 119.0p.

Reporting by Iain Gilbert at Sharecast.com