Proactive’s Tylah Tully breaks down ‘Just the Facts' of RemSense Technologies Ltd (ASX:REM)’s latest news.
The company has expanded its partnership with Chevron through the award of a second contract under the global Services Agreement. This contract signifies an important step in RemSense’s global services strategy, marking its expansion into the USA.
RemSense will provide high-resolution photogrammetry scanning and image processing services for an offshore production facility using its virtualplant platform, which creates digital or visual twins of assets to improve productivity, safety, and cost efficiency.
The contract is valued at US$66,790 and is expected to be completed by November 2024. While the contract value is modest, it further strengthens RemSense’s partnership with Chevron and facilitates smoother project execution by removing the need for separate contracts for each project. The virtualplant platform enhances asset utilisation and offers innovative solutions in asset visualisation.
RemSense’s Managing Director Warren Cook said the partnership expands the company’s international footprint and reflects the trust and innovation built through the virtualplant service.
The company remains in talks with Chevron and other global producers for future contracts involving the virtualplant technology.