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Samsung Heavy wins huge deal from Royal Dutch Shell |
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Tuesday, 09 March 2010 |
 South Korea's Samsung Heavy Industries said Tuesday it has won a contract to build a floating gas platform for Royal Dutch Shell worth an estimated four to five billion dollars.
The country's leading shipyard said in a statement the LNG-FPSO
(Liquefied Natural Gas-Floating Production Storage and Offloading) unit
would be delivered by 2016 under the contract due to be signed in Paris
on Tuesday. It said the price would be fixed by the end of this year,
but cited industry estimates that the project would be worth four to
five billion dollars. Samsung said it and Technip, a French oil and gas
producer, would jointly design the floating facility -- 468 metres
(1,540 feet) long, 74 metres wide and 100 metres high -- for
construction at its shipyard in South Korea. The deal marked the first
such contract since Samsung agreed last July to exclusively supply
LNG-FPSOs to Europe's largest oil company Royal Dutch Shell over the
next 15 years.
Source: AFP
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