SpeedCast International Limited (ASX: SDA) has been awarded an additional 'sizable' multi-year agreement which is the third major services agreement awarded to the company by a global energy service company.
The agreement stipulates that SpeedCast will provide fully managed VSAT network services to 18 wellsite locations throughout China. This both provides satellite communications services in China as well as further enables SpeedCast to gain more of the market share in the energy sector.
Comments from both players are as follows:
According to Keith Johnson, Senior Vice President, Energy of SpeedCast, “This is the third major services agreement awarded to SpeedCast by the Customer in the past 12 months. Working side-by-side with the Customer, we proposed a solution which has taken their operational and business requirementsinto consideration. The Customer will be able to drive global network consistency and gain efficiencies as additional countries come under a common global managed service. The Customer is now able to better manage resources and streamline operational processes by working with us across various countries and three continents.”
PJ Beylier, CEO of SpeedCast, emphasized, “This is our first service implementation for an Energy Customer in China. It is therefore an important milestone that opens the door to more developments in China. Even more importantly, it validates our vision to establish SpeedCast as a leading global service provider, able to serve blue chip energy customers on a global basis, and as thus to win market share versus long established competitors in that sector.”