Daewoo Shipbuilding & Marine Engineering Co. (DSME) has netted a $1 billion order from Brazilian oil company Petrobas for offshore plant construction, reports Pulse.
About the deal
According to a disclosure, DSME has procured a 1.1 trillion won ($1 billion) order from Brazil’s state-owned Petroleo Brasileiro S.A. (Petrobras). The deal is part of a total $2.3 billion order to build a floating production, storage, and offloading (FPSO) facility, which has been secured by a joint venture with Italy`s oilfield services company Saipem SpA, DSME said.
The FPSO will be able to produce 180,000 barrels of oil and 7.2 million cubic meters of natural gas a day with a storage capacity of 2 million barrels of oil. The facility is scheduled to be delivered by December 2025.
DSME will be in charge of constructing the hull of the offshore plant that stores crude oil and a part of its upper structure. The topsides built by Saipem will be delivered to DSME’s Okpo shipyard, where they will be integrated with the hull.
1 trillion order
It is the first time in seven years that DSME has won a deal valued at over 1 trillion won for an offshore plant since the 3 trillion-won order signed in 2014, the shipbuilder said.
The shipbuilder anticipates additional orders in the coming months as the oil production facilities market is gradually recovering thanks to rising oil prices, a DSME official said.
DSME has so far achieved 48.3 percent of its annual order target of $7.7 billion, netting $3.72 billion worth of orders for 27 vessels.
Shares of DSME are trading down 0.13 percent at 38,000 won in the afternoon session of Monday.
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Source: Pulse News
