This is an interesting article about the first Gorgon shut down, did Chevron learn and are they doing anything differently?
https://thewest.com.au/business/energy/the-day-disaster-struck-gorgon-ng-b88423525z
12 replies (most recent on top)
Tip: Sell Chevron shares.
Chevron's struggle is Exxon's gain.
Exxon is selling mid term gas from their PNG project on the belief that Gorgon volumes are not available on a predictable and reliable basis. They are telling customers to not believe anything on Gorgon volumes. Exxon is not making volumes commitments based on Gorgon volumes being available, they are capturing near term market at our expense. We will struggle to sell uncommitted gas once the plant is running reliably.
-2rdz - if this asset is still gushing cash in 20 years, I will be extremely surprised. 50 years??? I need some of what you are smoking.
To be truthful, the reports filed with regulatory are much more factual than the propaganda the Chevron corporate regime has been polishing and disseminating.
I hope I am wrong about my revenue duration prediction, but it will take 20+ years for the project to begin making profit, at the current market projections. It will take industry leading production reliability and cargo delivery for the next many years to even think about classifying this endeavor as anything other than a complete failure.
2rdz - You think this startup hiccup at Gorgon (then Wheatstone) will only last a couple of months. You sure are an optimist. You must work in Public Affairs. It's more and more clear the monstrous Australian LNG projects will take a very long time to break even. After that, don't expect the cash cow Chevron has been selling to investors.
I don't see the point of the article. It is nothing more than a summary of the paperwork filed with the regulator. There are no useful quotes anywhere in the article. Apparently nobody was interviewed for the story at all. Broken refrigerator. Teething pains.Normal stuff. Anyhow,it all seems to be working now and in 50 years when it is still gushing cash nobody will care about a couple months startup hiccup.
An excellent article on the superior ethics and professionalism embodied by ' The Chevron Way'. Just keep avoiding any truth or honesty by spinning a story to keep the investment community happy and in the dark. It reminds me of the movie Animal House, where the car that Flounder borrowed from his brother gets smashed up while partying with fellow frat buddies from Delta. Otter tells Flounder to report that the car was stolen and the insurance company will pay for a new car for Flounder's brother. Flounder asks Otter if that would really work, and Otter says it has to because it's better than the truth.
We only cared about the roster no one damaged f--- all ...we did it the chevron way which means slow and painful...processes designed not for project but for the old boy refinerys
Chevron could complicate IKEA sh--
Hey wez lets start with ...you are a Ghalar ....i was in the thick of all that Gorgon sh-- and no one and i mean no held up any thing ...the work force wanted a win as much as any one. Your/ you Chevron managers could not put together a good BBQ. Making crazy non industry best practice calls because they assumed they could ..it would save 5 minutes on the day and leave operations years of heart ach. .. not cleaning or flushing pipes ...sacking flangement company at the start of commissioning ..the list goes on all the way back to san ramon ....but the managers are still here
The true delays came from poor decision making from the client ...Chevron ...and sh-- QA/QC in Korea
Poor plan ...poor excution .......there you go waz or wez stick that in ya pipe and smoke it ....
I just heard that the Australian unions intentionally sabatoged their own work during construction so defects would show up during operation providing them with a gravy train of work for the next 15 years
Very informative article.
Liquidated damages against the contractor for the refrigeration system?
Surely confirms that many of the rumors that were flying around are in fact more than rumors. Also plainly exposes deliberate manipulation and control of facts surrounding the first train startup and cargo, on the part of the operator. One of my least favorite realities about working in this industry. Zero integrity on the largest scale.