UPDATE: DSME Bags Oil Platform Contract of over $1.9B

South Korea's Daewoo Shipbuilding & Marine Engineering (DSME) has secured a contract worth over $1.9 billion to build five fixed oil production and processing platforms that will be used for work offshore Africa, according to a disclosure from DSME.

The five platforms are scheduled to be delivered by April 12, 2016, the disclosure by DSME stated. 

DSME is aiming to end off its 2012 fiscal year with $11 billion worth of new orders, according to data from DSME's published annual report in 2011. The company's record-high was in 2007, where it recognized $19.5 billion worth of new orders.

DSME is bidding in several other projects, and the company is expecting to announce more contract wins in 4Q 2012.

 

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