FFT secures Oil & Gas security contracts valued at A$962K
Future Fibre Technologies Limited (FFT) (ASX: FFT), a global leader in fibre optic perimeter intrusion detection systems, announced today that it has secured perimeter security contracts across the Middle East, with a total value of A$962K.
As part of this the company has received a A$417k contract for the supply of FFT Aura controllers to protect the perimeter of a refinery in Turkey. This contract is a result of the investment in sales resources in Turkey in late 2015.
The Turkey contract is in addition to other recent contracts received for Oil and Gas facilities in the region. Multiple FFT Secure Point controllers will be used to protect perimeter fences across two sites in Kuwait, while FTT Secure Fence will monitor the 2,700m perimeter of an oil and gas facility in Algiers.
FFT Chief Executive Rob Broomfield said that the company was experiencing some renewed momentum in Oil & Gas related projects.
“As previously reported, our FY16 result was impacted by reductions in Government and Oil & Gas investment in the Middle East, slowing roll-out schedules for significant projects and contracts. We believe that these spending reductions were a function of weaker and volatile oil prices. FFT is well positioned to implement these projects and contracts as they come back online as the oil price continues to stabilise and improve.”
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FFT is a leading developer and manufacturer of fibre optic intrusion detection security systems. Deployed by some of the most security conscious industrial, military and government organisations in the world, FFT’s advanced security systems:
- detect and locate perimeter intrusions;
- identify third-party interference on oil and gas pipelines; and
- protect sensitive data network communications cables.
With hundreds of installations in more than 55 countries, FFT has established a solid reputation for delivering highly intelligent, reliable, and award winning intrusion detection solutions. www.fftsecurity.com
For further information contact: Katie Paynter +61 417 057 243