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AJ Lucas wins $66M worth of oil and gas and water contracts in Australia

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AJ Lucas (ASX: AJL) has been awarded $66 million worth of new contracts, demonstrating its strong capability in the provision of infrastructure for the oil and gas and water industries.

The three contracts are:

-    Construction and installation of gas gathering pipelines in Central Queensland totalling 32 kilometres in length;
-    Construction and installation of a 5.5 kilometres gas pipeline between Tomago and Hexham including 2.6 kilometres of horizontal directional drilling to traverse the Hunter River and an industrial area; and
-    Construction and installation of gas (53.6 kilometres) and water (24.5 kilometres) trunklines in the northern region of the Queensland Curtis LNG Project

The company said it is engaged in a number of contracts in this sector and, following the recent restructuring of its balance sheet, is well positioned for the award of further works as the various Queensland liquefied natural gas export projects move towards commissioning.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

Quick facts: AJ Lucas Group Ltd

Price: 0.048 AUD

ASX:AJL
Market: ASX
Market Cap: $57.42 m
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