Oil And Gas Sector Update : SOGT Finally Awarded?

SOGT finally awarded. It was reported in The Business Times that Korean
company Samsung Engineering had been awarded a US$770m (RM2.4bn) contract from Petronas Carigali (PCSB) to build an oil and gas terminal in Sabah which we believe is the long awaited SOGT project. The terminal would have the capacity to produce 300,000 barrels of oil and 1.25bn cubic feet of gas per day and is tentatively scheduled for completion by 2013. Samsung Engineering will lead the engineering, procurement, construction and commissioning (EPCC) works while its local partner is Naim Cendera S/B Engineering (NCSB), a Sarawak-based construction subsidiary of Naim
Holdings Bhd.

Oil And Gas Sector Update : SOGT Finally Awarded? - 01/09/2010