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Elbit Systems Awarded $15 Million Contract From Energean Israel to Provide a Security Solution for Karish-Tanin Gas Fields FP...

07/01/2019 7:56am

PR Newswire (US)


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HAIFA, Israel, January 7, 2019 /PRNewswire/ --

Elbit Systems Ltd. (NASDAQ: ESLT) and (TASE: ESLT) ("Elbit Systems" or "the Company") announced today that it was awarded a $15 million contract from Energean Israel Ltd. ("Energean"), a subsidiary of Energean Oil and Gas plc (LSE and TASE: ENOG), to supply a comprehensive solution for the Floating Production Storage and Offloading (FPSO) platform of the offshore Karish-Tanin gas fields. The contract will be performed over an approximately two-year period, with warranty and logistic support continuing for an additional 10 years.

The technological suite to be supplied by the Company's subsidiary, Elbit Security Systems Ltd., (ELSEC), includes a wide range of sensors, among them electro-optic systems, radars, sonars, a command and control center as well as equipping rapid interception boats with a dedicated suite of sensors. The security solution will enable to detect and identify both surface and underwater threats and will assist security teams to respond efficiently.

Elad Aharonson, General Manager of Elbit Systems ISTAR Division, commented: "Providing security to assets located in countries' exclusive economic zones demands sophisticated technological and operational capabilities. Having been selected by Energean to provide the security suite for their Karish-Tanin gas fields' FPSO platform, is a testament to our competitive advantage in this area."

About Elbit Systems  

Elbit Systems Ltd. is an international high technology company engaged in a wide range of defense, homeland security and commercial programs throughout the world. The Company, which includes Elbit Systems and its subsidiaries, operates in the areas of aerospace, land and naval systems, command, control, communications, computers, intelligence surveillance and reconnaissance ("C4ISR"), unmanned aircraft systems, advanced electro-optics, electro-optic space systems, EW suites, signal intelligence systems, data links and communications systems, radios and cyber-based systems. The Company also focuses on the upgrading of existing platforms, developing new technologies for defense, homeland security and commercial applications and providing a range of support services, including training and simulation systems.

For additional information, visit: http://www.elbitsystems.com , follow us on Twitter or visit our official Youtube Channel.

This press release contains forward-looking statements (within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended) regarding Elbit Systems Ltd. and/or its subsidiaries (collectively the Company), to the extent such statements do not relate to historical or current fact. Forward-looking statements are based on management's expectations, estimates, projections and assumptions. Forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. These statements are not guarantees of future performance and involve certain risks and uncertainties, which are difficult to predict. Therefore, actual future results, performance and trends may differ materially from these forward-looking statements due to a variety of factors, including, without limitation: scope and length of customer contracts; governmental regulations and approvals; changes in governmental budgeting priorities; general market, political and economic conditions in the countries in which the Company operates or sells, including Israel and the United States among others; differences in anticipated and actual program performance, including the ability to perform under long-term fixed-price contracts; and the outcome of legal and/or regulatory proceedings. The factors listed above are not all-inclusive, and further information is contained in Elbit Systems Ltd.'s latest annual report on Form 20-F, which is on file with the U.S. Securities and Exchange Commission. All forward-looking statements speak only as of the date of this release. The Company does not undertake to update its forward-looking statements.

Elbit Systems Ltd., its logo, brand, product, service and process names appearing in this Press Release are the trademarks or service marks of Elbit Systems Ltd. or its affiliated companies. All other brand, product, service and process names appearing are the trademarks of their respective holders. Reference to or use of a product, service or process other than those of Elbit Systems Ltd. does not imply recommendation, approval, affiliation or sponsorship of that product, service or process by Elbit Systems Ltd. Nothing contained herein shall be construed as conferring by implication, estoppel or otherwise any license or right under any patent, copyright, trademark or other intellectual property right of Elbit Systems Ltd. or any third party, except as expressly granted herein.

Contacts:
Company Contact:
Joseph Gaspar, Executive VP & CFO
Tel: +972-4-8316663
j.gaspar@elbitsystems.com

David Vaaknin, VP, Head of Corporate Communications
Tel: +972-77-2946691
david.vaaknin@elbitsystems.com

IR Contact:
Ehud Helft
Gavriel Frohwein
GK Investor Relations
Tel: 1-646-688-3559
elbitsystems@gkir.com


SOURCE Elbit Systems Ltd.

Copyright 2019 PR Newswire

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