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Synertec Corporation wins contract at mammoth Gorgon LNG Project

The Chevron Australia-operated Gorgon Project is one of the world's largest LNG developments and the largest single resource project in Australia's history.

hand with pen signing contract
Synertec is a multi-disciplined engineering company

Synertec Corporation Ltd (ASX:SOP) has won a contract to design, build and commission a new custody transfer system at the Chevron Australia-operated Gorgon Project.

The system is for the metering, sale and transfer of condensates processed at the project.

Synertec’s managing director Michael Carroll said: “This system is complex and highly technical and is “mission critical” for the effective transfer of high-value condensate product.

“We are applying our locally developed expertise from LNG custody transfer to a different, but allied product stream.

“It is gratifying that our strategy to create world-leading innovative solutions and capability in specific, high value market “verticals” is delivering positive results.

Investment in transfer technology now paying dividends

Carroll added: “Synertec has invested heavily in the innovation of custody transfer technology over many years, and this has contributed substantially to the growth of Synertec, creating ongoing opportunities for our people and our local suppliers.

“This project will enable us to further refine Australian expertise in the highly specialised area of fiscal custody transfer systems.

“Synertec’s solutions in this area have been independently recognised as among the most accurate in the world and is applicable to LNG operations in Australia and overseas.”

READ: Synertec Corporation increases revenue by 173%, shares up 11%

Synertec’s growth was evident in his December half-year financial result released in February 2019 which revealed revenue growth of 90% over the prior June half.

Quick facts: Synertec Corporation Ltd

Price: 0.035 AUD

ASX:SOP
Market: ASX
Market Cap: $9.66 m
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