Avanceon FZE, a wholly owned subsidiary of Avanceon Limited, has announced the acquisition of a significant multi-million-dollar project aimed at delivering advanced energy solutions and services to one of the largest energy providers in the Middle East.
According to the notification to the Pakistan Stock Exchange (PSX), this strategic project, valued at approximately USD 16.5 million, is set to enhance operational efficiency and safety for the energy giant over three years, from August 2024 to August 2027.
The project underscores Avanceon’s commitment to providing world-class automation and control solutions within the oil and gas sector across the Middle East and beyond. Avanceon will be responsible for the supply, integration, and commissioning of cutting-edge instrumentation and control systems. These systems are designed to improve safety, reliability, and efficiency, meeting the rigorous demands of the energy industry.
The scope of work includes the installation of advanced control and safety systems, such as Instrumentation Spares, Programmable Logic Controllers (PLC), High Integrity Pressure Protection Systems (HIPPS), and Wellhead Control Panels (WHCP).
Additionally, Avanceon will conduct site surveys, detailed engineering, procurement of materials, performance testing, and commissioning, along with providing onsite training, maintenance, and troubleshooting.
Avanceon will collaborate with top-tier Original Equipment Manufacturers (OEMs) to ensure the project adheres to the highest standards of safety and quality. The company will implement rigorous protocols, including HAZOP studies and ISO 9001-compliant QA/QC standards, to guarantee unparalleled performance and compliance with all customer and regulatory requirements.
This project is a significant milestone in Avanceon’s “Road to 100 Plan,” which aims to achieve $100 million in revenue by the end of FY 2025. With a robust pipeline and extensive experience in the energy sector, Avanceon is poised to capitalize on this opportunity to further strengthen its position as a leading provider of automation solutions.
