SEOUL, KOREA - Samsung Heavy Industries won a total of US$700-million orders to build two offshore platforms. The company said on November 10 that it landed two separate deals to build the substructure of a floating production unit (FPU) for Royal Dutch Shell and an offshore platform for a North American oil company. The floating production unit commissioned by Shell has already been in the design stage and the company will soon sign the main contract.

 

Earlier in April last year, Samsung Heavy had signed a ten-year long-term supply agreement with Shell for FPU substructures and started designing the unit since then. A company official said, "We signed the first deal with Shell to supply floating liquefied natural gas facilities, followed last year by a contract to supply the substructures." 

 

"Thanks to the long-term relationship with Shell, we have had sufficient contracts to work with despite the prolonged downturn in the offshore plant market," he added. Separately, Samsung Heavy was selected as a preferred bidder to a project to build an offshore platform for a North American oil company.

 

Article provided by The Korea Economic Daily