UGL wins $120M Santos GLNG contact

Company News

UGL Limited (ASX:UGL) has won a three year contract to provide plant services for Santos Limited’s (ASX:STO) GLNG liquefied natural gas project in Queensland. 

The engineering company says the contract is valued at about $120 million over the initial term and includes options to extend it for an extra four years. 

UGL will perform maintenance, shutdown, engineering and project services for the facility, starting from next month.  

Managing Director and CEO Ross Taylor says UGL is well positioned for future maintenance opportunities as LNG facilities under construction move into their operational phase. 

UGL reported a net loss of $121 million in the first half of the 2015 financial year. 

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