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The latest announcement is out from Worley Limited ( (AU:WOR) ).
Worley has been selected by Chevron Cyprus to provide front end engineering design and procurement services for the Aphrodite Field Development Project, Cyprus’ first offshore gas development in the Eastern Mediterranean. The reimbursable contract covers subsea systems, a floating production unit, export gas pipeline and onshore receiving facilities, with Worley drawing on teams in five countries and building on its earlier pre-FEED work.
The FEED phase and associated procurement are expected to run through to December 2026, ahead of targeted first gas from Aphrodite in 2032. The award strengthens Worley’s long-standing relationship with Chevron and reinforces its position in large-scale gas developments, while underscoring the strategic significance of the Aphrodite project for Cyprus’ emerging offshore energy sector.
The most recent analyst rating on (AU:WOR) stock is a Buy with a A$11.50 price target. To see the full list of analyst forecasts on Worley Limited stock, see the AU:WOR Stock Forecast page.
More about Worley Limited
Worley Limited is an Australia-headquartered, ASX-listed global professional services company serving the energy, chemicals and resources sectors. It partners with customers to deliver projects and long-term asset value, focusing on both current energy, chemicals and resources needs and the transition toward more sustainable energy sources.
Average Trading Volume: 2,370,337
Technical Sentiment Signal: Sell
Current Market Cap: A$5.15B
For an in-depth examination of WOR stock, go to TipRanks’ Overview page.