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Nordic Technology Group AS

Regulatory Filings • Jan 23, 2023

3681_rns_2023-01-23_cb9a2df3-c50b-4fe3-be82-bbeea2606923.html

Regulatory Filings

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Hammertech received Variation Order from ADNOC

Hammertech has received a Variation Order (VO) of USD 141,000 related to a PO received by Hammertech in January 2022 from the Abu Dhabi National Oil Company (ADNOC) for an important strategic project. The VO became required by a change in the specification by ADNOC after the original PO to Hammertech had been issued. The project's objective is for ADNOC to use the Hammertechs AquaField product on a large scale in its producing oil fields. AquaField is particularly well suited for retrofitting on land-based production facilities and the minimal maintenance requirements enables large-scale deployment, which is new to the industry. The project will be completed in 2023, paving the way for larger deliveries to ADNOC from 2024.