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Samsung Heavy wins $3b order for oil storage facility
By Korea HeraldPublished : June 13, 2013 - 19:59
Samsung Heavy Industries Co., a South Korean shipbuilder, said Thursday that it has clinched a $3 billion deal to build an offshore oil storage facility for a Nigerian firm.
Under the deal with an unnamed customer, Samsung will deliver the so-called floating production and storage offloading unit and will start operations during the second half of 2018, the company said.
The FPSO is designed to process and store oil or natural gas, and can be maneuvered to serve different locations.
The vessel, measuring 330 meters long and 34 meters wide, will be able to store up to 2.3 million barrels of crude oil, Samsung said.
Last year, Samsung Heavy also won a $2.73 billion deal to build a similar offshore facility that processes natural gas.
So far this year, Samsung has won deals valued at $7.8 billion, achieving some 60 percent of its annual order target of $13 billion for the year.
In June alone, the shipbuilder bagged contracts worth $4.8 billion, it said. (Yonhap News)
Under the deal with an unnamed customer, Samsung will deliver the so-called floating production and storage offloading unit and will start operations during the second half of 2018, the company said.
The FPSO is designed to process and store oil or natural gas, and can be maneuvered to serve different locations.
The vessel, measuring 330 meters long and 34 meters wide, will be able to store up to 2.3 million barrels of crude oil, Samsung said.
Last year, Samsung Heavy also won a $2.73 billion deal to build a similar offshore facility that processes natural gas.
So far this year, Samsung has won deals valued at $7.8 billion, achieving some 60 percent of its annual order target of $13 billion for the year.
In June alone, the shipbuilder bagged contracts worth $4.8 billion, it said. (Yonhap News)
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Articles by Korea Herald
