Samsung Heavy Industries Clinches $4.7B Contract to Build 3 FLNGs for Shell

South Korea's Samsung Heavy Industries (SHI) clinched a $4.7 billion (KWR 5.2 trillion) contract from the Netherlands-based Shell Gas & Power B.V. to construct three floating liquefied natural gas (FLNG) facilities, according to local media Yonhap News Agency Wednesday.

Under the contract, which came into effect June 30, SHI will have until Nov. 30, 2023 to deliver the three FLNG facilities.

SHI indicated that the contract value only includes construction of the hulls and could increase as the contract for the remaining parts, including the decks, will be signed in the second half of 2016, the company said through a regulatory filing, Yonhap added. 

The South Korean shipyard is also involved in the construction of Shell's first FLNG facility for the Prelude gas field offshore Western Australia that is tentatively scheduled to commence production in 2016.



Have a news tip? Share it with Rigzone!
Email news@rigzone.com

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE

More from this Author
Rigzone Staff
e-mail us at news@rigzone.com
 -  Petrofac Suspends Group Chief Operatin... (May 25)
 -  EnQuest On Track For Kraken First Oil ... (May 25)
 -  Energean Signs Lease Agreement for Exp... (May 25)
 -  Seadrill CEO Praises Workforce (May 24)
 -  Serinus Shuts-In Sabria Field Due to S... (May 23)


Most Popular Articles

From the Career Center
Jobs that may interest you
Junior-Level Mechanical HVAC Design / Energy Audit Engineer
Expertise: HVAC|Mechanical Engineering
Location: San Antonio, TX
 
Mechanical Superintendent, Construction
Expertise: Construction Engineer|Mechanical Technician
Location: Alvin, TX
 
Corrosion Technician I
Expertise: Corrosion Engineering
Location: Houston, TX
 
search for more jobs

Brent Crude Oil : $51.46/BBL 4.63%
Light Crude Oil : $48.9/BBL 4.78%
Natural Gas : $3.18/MMBtu 0.90%
Updated in last 24 hours