The customer, who was not named in the company’s press release, is described “as one of the world’s largest oil and gas companies.” OQ Technology will deploy user terminals covering oil and gas well heads, allowing, for example, performance monitoring, leak and spillage detection, and smart metering.

“This commercial product suite and contract is the start of a whole new ballgame,” said Omar Qaise, founder and CEO of OQ Technology. “In addition to funding and contracts to prove a certain technology, we are now making revenue based on our 5G IoT satellite constellation and delivering the services and products it can provide.”

The company is also introducing OQ-Secure, a private and secure network that provides 5G connectivity for IoT devices. “It consists of both hardware and software in space and on the ground without the need for further external intervention from other space or ground segments,” noted the press release.

, which was established in Luxembourg in January 2016, has offices in Luxembourg, Greece, Saudi Arabia, Rwanda and the United Arab Emirates.