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TraceSafe Signs Agreement with Oil Search

https://finance.yahoo.com/news/tracesafe-signs-agreement-oil-search-122000074.html

Newsfile Corp.
Tue, July 6, 2021, 8:20 AM

Vancouver, British Columbia--(Newsfile Corp. - July 6, 2021) - TraceSafe Inc. (CSE: TSF) ("TraceSafe"), a global leader in wearable safety tech and connected workforce solutions, including large-scale venue management and asset tracking, is proud to announce a one-year agreement with Oil Search, a responsible energy company and Papua New Guinea's largest single investor.

TraceSafe's solution will include new high-capacity BLE beacons and the cloud platform. The wearable technology will be used to ensure health and safety of Oil Search employees, contractors and site visitors in their Papua New Guinea oil field operations. The agreement includes two subsequent annual term renewal options.

"The industrial IoT market (IIoT) is predicted to reach $1.11 Trillion USD by 2027 as the industry is undergoing an IoT revolution," said Wayne Lloyd, CEO of TraceSafe. "We are excited to see our IoT products improve operations and enhance safety in the industrial sector."

About Oil Search
Oil Search is one of Papua New Guinea's largest companies. Established in 1929, their Purpose is to deliver low cost, high value energy that meets society's needs. Oil Search has a focused portfolio comprising of 29% interest in the PNG LNG project, operated oil and gas assets in PNG which contribute 20% of PNG LNG gas and produce all of PNG's oil, and 22.8% interest in Papua LNG, a brownfield LNG growth opportunity.