Decmil Group Limited’s Stock gets a boost from a Three Years’ Agreement with QGC Pty Limited

  • Sep 13, 2018 AEST
  • Team Kalkine
Decmil Group Limited’s Stock gets a boost from a Three Years’ Agreement with QGC Pty Limited

Decmil Group Limited (ASX: DCG) shares climbed up 1.27 percent on September 13, 2018 after the announcement of securing a new three year agreement with leading natural gas producer QGC Pty limited for all the work which is done in Surat Basin. As per the release, the estimated cost of the contract would be approximately $150 Mn over initial term and it is supposed to start on 1st November 2018. The agreement also includes an option of extension up to 2 years more than the initial three-year agreement.

Decmil group has been associated with QCG group from past seven years and they have been doing various brownfield maintenance activities and providing services like installation of well heads for them. The Scope of this agreement includes construction activities, maintenance services, and logistics across the number of QGC’s upstream projects which are operating in Surat Basin. 

Decmil Group Limited traded at a market price of $ 0.795 with the market capitalization of circa $157.59 Mn (AEST: 03:05 P.M.).

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