Chalking Up First Order

Samsung Heavy Industries is building the same kind of facility as a floating production unit (FPU) which it won an order for this time.
Samsung Heavy Industries is building the same kind of facility as a floating production unit (FPU) which it won an order for this time.

 

Samsung Heavy Industries rang in the 'New Year' with good news about landing a new order. The company won a contract for the offshore plant amounting to 1.5 trillion won, chalking up the first order among the three top Korean shipbuilders.

Samsung Heavy Industries announced on January 5 that the company received an order for a floating production unit (FPU) of the 'Mad Dok II Project' from oil major BP for about $ 1.27 billion. Samsung Heavy Industries' contract is the first order in the New Year and the first offshore plant order in one year and six months for the Korean shipbuilding industry.

Samsung Heavy Industries's new FPU order is an offshore production facility that will be used in the second phase development of Mad Dog Oil Field 300km south of New Orleans of the US. The FPU which Samsung will build will be able to produce 110,000 barrels of crude oil and 25 million cubic feet of natural gas a day. The large-sized 58,000-ton facility will be delivered by August of 2020.

Samsung Heavy Industries is expected to receive additional orders for offshore plants as the company is about to strike a deal with Italy’s ENI on the latter’s floating liquefied natural gas (FLNG) project for the production, storage and unloading of liquid natural gas in Mozambique. Samsung Heavy Industries' contract money is projected to amount to 3 trillion won in this project which Samsung Heavy Industries won by forming a consortium with Technip of France and JGC of Japan.
 

 

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