DUG Technology Ltd (ASX:DUG)

ALERT: Price-sensitive ASX Announcement for DUG

Current share price for DUG : $1.905 -0.275 (-12.61%)⁺

Announcement

1st year purchase order with upgrade to contract value

Release

16 Sep 2025 9:16AM

Price at Release

$2.180

Full Release

Summary

DUG Technology Ltd announced the receipt of the first year purchase order for a PETRONAS SaaS and HPCaaS deal, initially valued at US$14.9 million, including a US$0.7 million one-off implementation and training charge. This order is part of a multi-year contract with an initial three-year term, expected to generate at least US$43.3 million over the contract's life. The contract involves significant upgrades in compute and storage capacity, as well as the utilization of DUG Insight software, enhancing PETRONAS's technical capabilities in subsurface processing and imaging workflows. DUG has partnered with Cegal for managed services, reflecting the company's commitment to expanding its geoscientific computing innovations.

Key Points

First year purchase order valued at US$14.9 million.
Contract with PETRONAS includes SaaS and HPCaaS services.
Multi-year contract with an initial three-year term.
Contract value expected to reach at least US$43.3 million.
Involves upgrades in compute and storage capacity.
DUG Insight software package will be extensively used.
Partnership with Cegal for managed services.
Enhancements include advanced subsurface processing capabilities.

IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.