• Duratec's subsidiary awarded contract with Lihir Gold Limited, a Newmont subsidiary
• Contract for plug and abandonment (P&A) services at Lihir Operations in Papua New Guinea
• Contract expected to generate multi-million-dollar revenue over 12-month term (~A$45m)

Duratec Limited (ASX: DUR) is pleased to announce that its wholly owned subsidiary, Duratec (PNG) Limited, has been awarded a contract with Lihir Gold Limited, a subsidiary of Newmont Corporation, for the provision of plug and abandonment (P&A) services at the Lihir Operations in Papua New Guinea. A portion of the contract scope relates to Phase 1 of the Lihir Nearshore Soil Barrier (NSB) Project, and the contract is expected to generate multi-million-dollar revenue over the 12-month contract term (~A$45m) subject to scope and performance, under standard commercial terms. Additional scope is available to Duratec, as approved by Newmont. The scope of work includes the provision of integrated services to safely execute well P&A activities. Duratec (PNG) Limited will deliver the project leveraging experienced personnel from across the group, together with established subcontractors with extensive technical and local experience. The project will also be supported by the broader technical expertise of Duratec's joint venture DXP Energy Solutions. Equipment required for the project will be sourced under standard commercial dry hire arrangements. Work is expected to commence immediately with the mobilisation of equipment and personnel. This award represents an important milestone in Duratec's expansion in the Energy and Resources services sector and its continued growth in the Papua New Guinea market. The contract is on standard commercial terms and is not subject to any material conditions precedent.

The contract is expected to generate multi-million-dollar revenue over the 12-month contract term (~A$45m) subject to scope and performance.