SRJ Technologies (ASX:SRJ) has secured a $292,000 contract from African non-destructive testing (NDT) and lifting gear inspection (LGI) services provider Southey Contracting for the supply of the SRJ BoltEx product.
SRJ, which has a $15.77 million market capitalisation, says under the contract, it will supply its BoltEx flange bolt integrity equipment to Southey for the maintenance campaign on a floating production, storage, and offloading (FPSO) vessel in West Africa for a global energy company.
The BoltEx equipment ensures flange integrity during the bolt replacement under pressure and is proven to perform at 1.5 times the design pressure even with all flange bolts removed.
SRJ notes that the initial contract value of $292,000 represents greater than 5% of current secured revenue for FY23.
SRJ Technologies Chief Executive Officer (CEO) Alexander Wood says the contract demonstrates the continued growth in demand for BoltEx.
“More and more companies globally that operate significant infrastructure and industrial facilities are becoming aware of the many safety and performance benefits that our range of flange integrity products offer.”
“More and more companies globally … are becoming aware of the many safety and performance benefits that our range of flange integrity products offer”
SRJ Technologies provides specialised engineering services and containment management solutions.
Southey Contracting delivers specialist access, inspection, maintenance, and manpower supply services to the oil and gas and mining sectors across Africa.
Write to Adam Drought at Mining.com.au