Samsung Heavy Industries wins order for world's largest FPSO
2013-08-24 09:00
Samsung Heavy Industries recently announced that its Nigerian subsidiary has signed an agreement to provide one of the world's largest floating production storage and offloading (FPSO) vessels.
According to Samsung Heavy Industries, the FPSO will measure 330 meters in length, 61 meters in width, and 34 meters in height. Its oil storage capacity will exceed 2 million barrels, and the weight of the portion above the waterline alone will reach 36,000 tons.
Samsung Heavy Industries will sign an agreement with TotalEnergies subsidiary TUPNI, with TUPNI acting as the contractor and Samsung Heavy Industries as the subcontractor. The estimated construction cost of the FPSO is US\$3 billion, making it one of the most expensive FPSOs ever contracted. Samsung Heavy Industries will deliver the FPSO through a turnkey contract encompassing design, procurement, construction, transportation, and commissioning.
According to Samsung Heavy Industries, the company's ability to secure this contract is primarily due to its technological innovation and commitment to localization at a Nigerian shipbuilding base. Samsung Heavy Industries plans to collaborate with a Nigerian company to establish a local base for constructing the majority of the FPSO's above-waterline components.
Upon completion, this shipbuilding base will operate as Samsung Heavy Industries' Nigerian offshore plant, giving the facility a "unique influence in the Nigerian offshore equipment market." Nigeria is expected to continue its demand for offshore vessels and equipment in the future.
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