DUG shares surge on $36m contract with Malaysian oil and gas multinational

DUG Technology shares climbed more than 25 percent after the company signed an agreement with a multinational oil and gas company Malaysia.

Perth-Central Wins the work of Petronas, a subsidiary of Malaysia’s state energy company to provide special calculation and storage capacity.

DUG also said that it will access the processing and imaging tool set, including elastic multi -parameter full wave form invertion imaging.

The company said that Petronas will enable technical teams to realize advanced sub -surface processing and imaging workflows and host third -party applications.

DUG worked with Cegal, a global technology company specialized in the energy sector in order to provide the scope of managed services of the contract.

Upon the call of the Malaysian company, the contract of $ 23.8 million or $ 36.4 million has spread to the first three years with the option of reaching for two more years.

DUG expects the project to be fully appointed in the first quarter of the 2026 calendar year and the temporary stages will be delivered throughout this year.

DUG is expected to be signed later on this month.

Technology outfit shares more than 25 percent of a pop, closed at $ 1.98.