08:26 AM EDT, 10/03/2024 (MT Newswires) -- McCoy Global ( MCCRF ) , trading near 52 week highs, on Thursday said it won a $4.3 million contract to supply several enhanced smart casing running tools (smartCRTs) for the Middle East market. Delivery is expected to begin in the fourth quarter of this year.

Early this year, national oil companies (NOCs) and major operators in some regions announced new casing running tool (CRT) requirements for future contract tender awards. McCoy's enhanced smartCRT addresses the new contract requirements and also offers an intelligent, connected enhancement to conventional casing running tools available today, the company said.

The smartCRT will be launched at the Abu Dhabi International Petroleum Exhibition and Conference next month.