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Duratec Limited (ASX:DUR)

ALERT: Price-sensitive ASX Announcement for DUR
Current share price for DUR : $2.320 -0.09 (-3.73%)+
Announcement
Release
27 Mar 2026 9:40AM
Price at Release
$2.410
Full Release
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Summary
Duratec Limited, through its subsidiary Duratec (PNG) Limited, has been awarded a significant contract with Lihir Gold Limited, a subsidiary of Newmont Corporation, for the provision of plug and abandonment services at the Lihir Operations in Papua New Guinea. This contract, which is part of the Lihir Nearshore Soil Barrier Project, is expected to generate multi-million-dollar revenue, approximately A$45 million over 12 months. The project will leverage Duratec's experienced personnel and subcontractors, alongside technical expertise from their joint venture, DXP Energy Solutions. The immediate commencement of the project signifies a strategic expansion for Duratec in the Energy and Resources sector within the Papua New Guinea market. The contract is executed on standard commercial terms and remains confidential.
Key Points
  • Duratec Limited's subsidiary, Duratec (PNG) Limited, secured a contract with Lihir Gold Limited for plug and abandonment services.
  • The contract is part of the Lihir Nearshore Soil Barrier Project in Papua New Guinea.
  • Expected contract revenue is around A$45 million over 12 months.
  • Work includes integrated services for well plug and abandonment.
  • The project will utilize experienced personnel from Duratec and subcontractors.
  • Duratec’s joint venture, DXP Energy Solutions, will lend technical expertise.
  • Equipment for the project will be hired under commercial terms.
  • Immediate commencement of work with equipment and personnel mobilisation.
  • The contract supports Duratec's expansion in the Energy and Resources sector.
  • Details of the contract are subject to confidentiality obligations.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.