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Samsung Heavy Wins FPSO Contract

Posted on March 9, 2010

South Korea's Samsung Heavy Industries has won a contract to build a floating gas platform for Royal Dutch Shell worth an estimated US$4 to 6 billion dollars. The LNG-FPSO (liquified natural gas - floating production storage and offloading) unit is scheduled to be delivered by 2016, according to the contract signed in Paris recently.

Samsung said Technip, a French oil and gas producer, would jointly design the floating facility for construction at its shipyard in South Korea. This deal marked the first contract since Samsung agreed in July 2009 to supply LNG-FPSOs to Royal Dutch Shell over the next 15 years.

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