KUALA LUMPUR: Chevron's giant US$37 billion Gorgon liquefied natural gas(LNG) project is still on track to come online 2014 and in which Wah Seong Corp Bhd is involved in a RM551 million pipe-coating job.
Reuters quoted Chevron gas and midstream president John Gass as saying Gorgon remains on schedule for first gas in 2014.
'We've passed significant CONSTRUCTION [] milestones over the past year," he was quoted saying at an oil and gas conference in Perth.
Gass also said that he expects Chevron to spend A$20 billion (US$20.887 billion) on Australian goods and services during Gorgon's construction.
AmResearch said in a report in February that Wah Seong managed to largely overcome the glitches for the Gorgon job and is currently operating its pipe-coating operations at normal efficiencies.
'This is clearly evident in 4QFY10 results. Hence, we maintain our FY11F earnings, which already incorporate a 63% on-year rebound on faster recognition of the Gorgon pipe-coating job,' it said.
In 2010, Wah Seong was affected by the disruption in the award of major contracts back in 2009 and the delays in implementing the RM551 million Gorgon pipe coating job.
Reuters quoted Chevron gas and midstream president John Gass as saying Gorgon remains on schedule for first gas in 2014.
'We've passed significant CONSTRUCTION [] milestones over the past year," he was quoted saying at an oil and gas conference in Perth.
Gass also said that he expects Chevron to spend A$20 billion (US$20.887 billion) on Australian goods and services during Gorgon's construction.
AmResearch said in a report in February that Wah Seong managed to largely overcome the glitches for the Gorgon job and is currently operating its pipe-coating operations at normal efficiencies.
'This is clearly evident in 4QFY10 results. Hence, we maintain our FY11F earnings, which already incorporate a 63% on-year rebound on faster recognition of the Gorgon pipe-coating job,' it said.
In 2010, Wah Seong was affected by the disruption in the award of major contracts back in 2009 and the delays in implementing the RM551 million Gorgon pipe coating job.
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