Samsung Heavy wins US$963-mln deal for FPSO
Samsung Heavy Industries Co., a major South Korean shipbuilder, said it has clinched a 1.1-trillion-won (US$963 million) deal to build an offshore oil storage facility.
In a regulatory filing, the shipbuilder said that it will deliver a floating production and storage offloading (FPSO) unit for an Asian firm by March, 2022. The FPSO will be constructed at its main shipyard in Geoje, some 330 kilometers south of Seoul, the company added.
The FPSO is designed to process and store oil or natural gas, and can be maneuvered to serve different locations.
Samsung Heavy has, so far this year, won deals valued at $2.3 billion, including orders for seven LNG carriers.