RemSense Technologies Limited (ASX:REM) is a Perth-based digital asset technology company specialising in high-resolution reality capture and virtualplant digital twin solutions for complex operating Assets in the energy and resources sector. The company's flagship virtualplant platform creates ultra-high-resolution digital replicas of offshore and onshore industrial facilities, enabling remote inspection, maintenance planning, and engineering collaboration without physical site visits.

Recent Development

On 8 September 2026, RemSense announced it had received Letters of Award for two further projects involving deployment of its virtualplant technology across two additional offshore oil and gas platforms in Bass Strait now operated by Woodside Energy following its transition from Esso Australia on 1 July 2026. The combined contract value is A$365,230. These awards extend RemSense's virtualplant footprint with Woodside to ten total assets across Australia, five on the NW Shelf and five in Bass Strait. Under the new awards, RemSense will deliver aerial and terrestrial ultra-high-resolution LiDAR scanning, 360-degree photogrammetry, enhanced virtualplant visual twins for Remote Digital Visual Inspections, maintenance planning and engineering workflows, and ongoing subscription access services. RemSense has worked with Woodside since 2018, and Bass Strait alone comprises 16 offshore platforms and installations, indicating significant remaining runway for further virtualplant deployments.

Sector Context

The oil and gas industry is increasingly investing in digital twin and remote inspection technologies to reduce the cost, risk, and environmental footprint of offshore operations. Reducing physical site visits to offshore platforms in environments like Bass Strait can generate significant savings in travel, accommodation, and contractor mobilisation costs while also improving safety outcomes. Woodside is one of Australia's largest energy producers and its willingness to expand the RemSense relationship across multiple assets is a strong commercial validation of the virtualplant proposition.

Risks and Uncertainties

RemSense's Revenue is project-based in nature, meaning individual contract wins contribute discrete revenue rather than fully predictable recurring income, though subscription elements provide some ongoing revenue base. The company's growth is substantially dependent on the expansion of its Woodside relationship and the development of new Tier 1 client relationships, which can involve long sales cycles.

Catalysts to Watch

The ongoing deployment across the ten Woodside assets and successful delivery of the Bass Strait projects will be important for sustaining and growing the relationship. Investors should watch for any announcements of new client relationships outside Woodside, particularly with other major energy operators, which would demonstrate the scalability of RemSense's Business model. Any expansion into the broader Bass Strait portfolio would also be meaningful.

The Bigger Picture

RemSense is building a compelling track record with one of Australia's largest energy companies. The expansion from five to ten Woodside assets reflects genuine and growing platform value, and the 16-platform Bass Strait estate alone represents a significant addressable opportunity for further growth.