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Avanceon Moves Forward with its First Project Acquisition in Nigeria: PSX

admin-augaf by admin-augaf
October 4, 2021
in Business, Finance, News, Technology
Reading Time: 2 mins read
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Avanceon Moves Forward with its First Project Acquisition in Nigeria: PSX
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Dubai October 4 2021: Avanceon FZE, a wholly owned subsidiary of Avanceon Limited established in the Middle East, has secured its first contract in the West African nation of Nigeria. Avanceon will be responsible for reviving a key oil field for the West African Exploration and Production Company Limited (WAEP) with an industry leading oil & gas solution.

The value of the contract is USD 1.1 million dollars.

The Kalaekule field produced crude oil between 1985 and 2002 and peaked at 22,000BOPD in 1999. WAEP, a subsidiary of the Dangote Industries Conglomerate, is planning to revive the dormant oil field by the end of 2021. To accomplish this feat, WAEP has acquired the services of PE Energy Limited (PEEL), Avanceon’s strategic partner to offer high-end integrated Control and Automation solutions for industrial end-users/customers and execute Main Automation Contractor (MAC) level projects.Avanceon, in partnership with PEEL, will be responsible for the installation, commissioning and testing of Well Head Control Panels (WHCP) for WAEP.

Avanceon and PEEL became strategic partners in September 2019 to provide high end oil and gas solutions in Nigeria.

In December 2019, Avanceon pledged support and technical expertise for the establishment of the PE Centre of Excellence (CoE) in Port Hartcourt.

About PE Energy Limited

PE Energy is an engineered solution, supply chain, and projects management company which represents some of the world’s leading OEMs. With key facilities across Nigeria, a global reach, and her partners, the company provides a wide range of solutions and engineering services. Established in 2009, PE Energy’s highly qualified and experienced engineers have been trained by the OEM’s. This ensures vital knowledge, industry insight and technical capabilities necessary for efficient project delivery. PEEL understands the complex demands of the Oil & Gas, Power, Food and Beverages, Cement and FMCG industry and has world-class engineering specialists to meet all
challenges. For more information about PE Energy Limited, visit www.pe-ng.com/

About Avanceon Avanceon is an industrial automation consultation and system integration entity in Pakistan, Qatar, UAE, KSA,
and United States. The company follows an ethical, proactive, and sustainable approach to business. As a leading innovator within the
automation industry, Avanceon provides state-of-the-art automation solutions on three continents. Established in 1984, Avanceon is committed
to providing engineering excellence to its clients and partners. Providing end-to-end solutions, which include Design, Supply, Engineering,
Installation, Testing, Commissioning, and Maintenance, Avanceon’s executive management has extensive experience and insight within the
automation and system integration industry. Avanceon is an ISO 9001-2015, 14001-2015, and OHSMS ISO 45001-2018 company holding
certifications from TUV Austria and TRACE International.

Tags: Pakistanpakistan stock exchangePSX
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