How SRJ Technologies Is Unlocking $6M in Middle East Oil Sector Contracts

Strategic Growth in the Middle East

SRJ Technologies Group Plc (ASX – SRJ) reported a highly active September quarter as it executed the foundational phase of its ambitious three-year growth strategy. Central to this phase was the establishment of a regional operating platform in the UAE, bolstered by the acquisition of a National Oil Company (NOC)-registered entity. This acquisition provides SRJ with direct market access and pre-qualification to tender for high-value projects across the Middle East, a region pivotal to the company’s long-term vision.

Complementing this strategic foothold, SRJ successfully raised £1.4 million (approximately A$2.9 million) through a placement and entitlement offer. These funds are earmarked to support ongoing strategic initiatives, working capital needs, and the integration of its UAE operations.

Major Contract Wins and Operational Advances

A highlight of the quarter was the execution of a 50 – 50 joint venture agreement with CAPSA Engineering & Contracting L.L.C, a UAE-based NOC-registered company. This partnership secured a multi-year contract valued at over US$6 million, with SRJ set to share half of the net profits. This contract not only validates SRJ’s regional strategy but also positions the company as a trusted asset-integrity and maintenance partner in key Middle Eastern markets including the UAE, Saudi Arabia, and Qatar.

Operationally, SRJ has made significant progress in its cost-out and restructuring program, achieving annualised salary savings of around £1.2 million and rationalising its international office footprint. The relocation of its headquarters to the UAE is nearly complete, aligning the company’s administrative and operational focus with its growth markets.

Expanding Commercial Momentum via ACE

SRJ’s subsidiary, Air Control Entech (ACE), continues to build commercial momentum with multiple UAV-based inspection and emissions monitoring contracts. Notably, ACE has delivered innovative remote inspections for major operators in the UK North Sea and internationally, significantly reducing downtime and enhancing safety by replacing traditional manned inspections with UAV technology.

ACE’s emissions monitoring services have been particularly well received, with two global supermajors commissioning methane and CO₂ quantification campaigns under stringent regulatory frameworks. These projects underscore ACE’s technical leadership and scalability, especially as new UAE emissions regulations drive demand for accurate, verifiable monitoring solutions.

Leadership and Future Outlook

To support its expanding operations, SRJ appointed Archil Tigishvili as Director of Operations in Abu Dhabi, bringing extensive regional experience. Meanwhile, business development efforts have been consolidated and strengthened with new appointments to drive growth in both the Middle East and Aberdeen.

While the company is still transitioning from restructuring to growth, the progress made in Q3 has materially enhanced SRJ’s positioning and visibility in the Middle East. The successful integration of the UAE acquisition, coupled with the joint venture contract and cost discipline, sets the stage for scalable revenue growth and improved profitability in FY26 and beyond.