TraceSafe Signs Agreement With Oil Search
July 6, 2021 - Vancouver, BC – Tracesafe Inc. (“TraceSafe”) (CSE: TSF) 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 PapuaLNG, a brownfield LNG growth opportunity.
TraceSafe is a full suite of real-time location management services and contact tracing solutions enabled through advanced low power bluetooth beacons and enterprise cloud management. TraceSafe’s leading cloud management solution ensures both user privacy and comprehensive administrative control. TraceSafe’s patented contact tracing bracelet has already been deployed in mission critical quarantine applications around the world in partnership with leading governments. In addition to their government work, TraceSafe is developing leading edge solutions for Enterprise, Healthcare, Education, Government and large-scale venue management.
Wayne Lloyd, CEO
+1 (604) 629-9975
Emily Graham, CFO
+1 (604) 356-8111
Statements in this news release may contain forward-looking statements that are based on TraceSafe’sexpectations, estimates and projections regarding its business and the economic environment in which itoperates, including with respect to expectations regarding the TraceSafe assets and their application,future business plans and relationships, future developments in respect of COVID-19 and solutions adoptedin response to the virus, and the deployment and acceptance of the TraceSafe technology. AlthoughTraceSafe believes the expectations expressed in such forward-looking statements are based onreasonable assumptions, such statements are not guarantees of future performance and involve risks anduncertainties that are difficult to control or predict, including the suitability of our products to helpbusinesses and governments reopen, competition, the spread or containment of COVID-19 andgovernment responses thereto and general economic and market conditions. Therefore, outcomes andresults may differ materially from those expressed in these forward-looking statements and readers shouldnot place undue reliance on such statements. These forward-looking statements speak only as of the dateon which they are made, and TraceSafe undertakes no obligation to update them publicly to reflect newinformation or the occurrence of future events or circumstances unless otherwise required to do so by law.
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