OIL - Ceragon Records Nearly $10 Million Quarter Booking for Energy Sector | Benzinga
Ceragon continues to bring innovative wireless connectivity solutions to Private Networks for new and existing customers across the Energy Vertical
ROSH HA'AIN, Israel, May 2, 2024 /PRNewswire/ -- Ceragon Networks Ltd. (NASDAQ:CRNT), the global innovator and leading solutions provider of 5G wireless solutions, today announced the finalization of several new deals serving the energy industry across multiple regions during Q1 2024. The cumulative deal value is worth nearly USD 10 million, the highest-ever quarterly booking for this sector. These strategic energy deals underscore Ceragon's pivotal role in accelerating digital transformation within the energy industry, enabled by advanced connectivity solutions.
FPSO Connectivity
Notably, Ceragon will execute a network upgrade for a major player within the Oil and Gas sector, deploying its state-of-the-art PointLink technology across multiple Floating Production Storage and Offloading (FPSO) units. This modernization initiative is intended to optimize the client's operational framework by significantly elevating data transmission speeds and reliability, thus enhancing operational agility at reduced costs.
Natural Gas Pipeline Connectivity
In another significant transaction, Ceragon booked a multimillion-dollar deal with a new customer for a key component of national energy infrastructure – a Natural Gas Pipeline extending over 1,600 kilometers. This network enhancement project is vital for enabling sophisticated remote monitoring and control, which is essential for maintaining operational excellence in handling this critical infrastructure.
Fleet of Vessels
Ceragon will be providing stabilized offshore connectivity for a fleet of vessels transporting minerals from shallow water ports to deep water vessels 40km from shore. Leveraging Ceragon's remarkably reliable stabilized PointLink solution will ensure high-capacity low-latency connectivity even in the harshest maritime environments.
Doron Arazi, CEO of Ceragon Networks, commented, "Our pursuit of private network opportunities is delivering impressive results, specifically in the global energy segment which is important for us. These strategic deals not only exemplify Ceragon's growing influence in the global energy sector but also our commitment to driving digital transformation through innovative wireless connectivity solutions. The energy sector represents a significant growth ...