The Worley Ltd (ASX: WOR) share price is pushing higher this morning after two positive announcements.
At the time of writing the engineering company's shares are up over 2% to $14.98.
What did Worley announce?
This morning Worley announced the award of an agreement from Sasol South Africa and a joint venture with the Atomic Energy Development Agency of the Republic of Uzbekistan (Uzatom).
In respect to its agreement with Sasol South Africa, Worley has been selected as one of the engineering contractor partners for services to the Sasol Secunda Synfuels facility.
The five-year agreement will see Worley provide engineering, procurement and construction services from front‐end to project completion. This is for Sasol's capital projects portfolio, including efficiency improvement and environmental compliance.
Chief Executive Officer, Andrew Wood, said: "This award is a significant milestone in the long‐term development of our relationship with Sasol and will form the foundation of further growth in southern Africa and beyond."
Joint venture.
Also giving its shares a boost was the announcement of a joint venture agreement with Uzatom.
The joint venture, named Uzatom Worley Engineering, will provide engineering services for nuclear power facilities and nuclear infrastructure in Uzbekistan. This includes expert evaluation, project management and consulting services to Uzatom and other customers.
According to the release, Uzatom is currently progressing an initiative to construct a nuclear power plant in Uzbekistan with two reactor units providing total capacity of 2.4GW.
Mr Wood said: "As Australia's leading energy services company, we are proud to expand our commitment to Uzbekistan and partner with Uzatom to help Uzbekistan develop its nuclear industry to meet the world's changing energy needs."
Also on the rise on Monday are Beach Energy Ltd (ASX: BPT) and Woodside Petroleum Limited (ASX: WPL) shares. They are up 3% and 1.5%, respectively, at the time of writing thanks to a rise in oil prices.
