Friday 1 September 2017

SML Corporation Limited (ASX: SOP) announces first overseas contract

The Board is pleased to announce the Company has secured two contracts from the North
Caspian Operating Company N.V. Kazakhstan (NCOC).

Under the new contracts with NCOC, Synertec will be providing the design and supply of instrumentation, electrical and mechanical equipment directly to the business.

NCOC is the operator of activities under the North Caspian Sea Production Sharing Agreement
(“NCSPSA”). Assets within the 5,600-square kilometer NCSPSA contract area include the giant. Kashagan field, one of the largest petroleum developments in the world. The development of Kashagan, in the harsh offshore environment of the northern part of the Caspian Sea, represents a unique combination of technical and supply chain complexity. The combined safety, engineering, logistical and environmental challenges make it one of the largest and most complex industrial projects currently being developed anywhere in the world.

In commenting on the contracts, Synertec’s Managing Director, Mr. Michael Carroll, said “The contracts with NCOC, whilst initially small, were secured following their extensive pre-qualification process of international organisations and will provide future opportunities for Synertec. In our view, the contracts are testament that Synertec can secure highly complex projects, both domestically and internationally and supports the strategy of adopting a more global perspective. It is fair to say that we are excited to be working with NCOC”.