Samsung Heavy Industries (SHI) Company News

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Saipem to Expand Its Offshore Drilling Fleet
Saipem is adding a new Samsung drillship to its offshore fleet. PHOTO SOURCE: Samsung Heavy Industries
8:00 PM EST | June 29, 2021
BP Argos Platform Arrives in Texas
The platform that will serve as the centerpiece of BP's Mad Dog 2 project has completed its journey from South Korea to the USA.
8:00 PM EST | April 13, 2021
Texas Dealmaker Pursues Another Path
Here's a look back at some of the most viewed Rigzone articles tied to the downstream from the past week.
8:00 PM EST | October 17, 2020
Delfin Hits FLNG Newbuild Milestone
The FEED phase has concluded for Delfin Midstream's newbuild FLNG vessel.
8:00 PM EST | October 12, 2020
Qatar Petroleum Signs Landmark LNG Deals
Saad Sherida Al-Kaabi, Qatar's minister of state for energy affairs and QP's president and CEO, has signed three LNG ship construction agreements. SOURCE: Qatar Petroleum
8:00 PM EST | June 01, 2020
$200MM Payment Ends Valaris Dispute with Samsung Heavy
Valaris states the payment concludes a drillship dispute tied to a 2007 Pride International contract with SHI.
7:00 PM EST | December 30, 2019
Samsung Wins Mad Dog 2 Fabrication Contract
Samsung wins contract for BP's Mad Dog 2 platform engineering and procurement work.
7:00 PM EST | January 04, 2017
After 20,000 Job Cuts, World's Top Shipyards Brace for More
South Korea's shipbuilding industry - home to the world's top three manufacturers - has eliminated more than 20,000 jobs this year.
8:00 PM EST | October 25, 2016
South Korean Yards Restructure, Trim Workforce
While Southeast Asian offshore contractors struggle to cope with the effects of the industry downturn, their more established competitors in South Korea have to embark on more severe measures to stay afloat.
8:00 PM EST | September 07, 2016
BW to Provide FSRU for Pakistan's Second LNG Terminal Project
BW signs agreement with Pakistan GasPort Ltd. (PGPL) to provide a floating storage and regasification unit (FSRU) for Pakistan's second liquefied natural gas (LNG) terminal.
8:00 PM EST | August 24, 2016
Fox Petroleum Invites SHI to Bid for India's FSRU LNG Terminal Project
Fox Petroleum invites Samsung Heavy Industries to participate in the floating storage regasification unit liquefied natural gas terminal project in Karnataka, India.
8:00 PM EST | June 19, 2016
World's Top Three Shipyards Seek To Raise $7.3B In Revamp
The world's three biggest shipyards plan to raise a combined $7.3 billion selling assets and cutting jobs as they seek to pare debt as part of a restructuring following losses last year.
8:00 PM EST | June 07, 2016
SHI Receives Shell's Termination Notice for $4.7B FLNG Building Contract
Samsung Heavy Industries receives a notice to terminate the $4.64 billion contract from Shell to build three floating liquefied natural gas units.
8:00 PM EST | April 28, 2016
Royal Boskalis Awarded Johan Sverdrup Services Contract
Royal Boskalis Westminster N.V. secures a contract by Samsung Heavy Industries for the transportation of topside modules for the Johan Sverdrup project, offshore Norway.
8:00 PM EST | March 31, 2016
Cape Secures Contract from SHI for Shell's Prelude FLNG Facility
Cape secures a contract from Samsung Heavy Industries for Shell's Prelude floating liquefied natural gas facility.
7:00 PM EST | February 22, 2016
SHI Awards Ichthys LNG Project CPF Hook-up Services Contract to Clough
Samsung Heavy Industries awards a hook-up services contract for Australia's Ichthys liquefied natural gas project central processing facility to Clough.
7:00 PM EST | January 26, 2016
South Korea's HHI to Halt Ops at Onsan Shipyard Due to Industry Downturn
South Korea's Hyundai Heavy Industries to halt operations at its Onsan yard amid the downturn in the global oil and gas industry.
7:00 PM EST | January 24, 2016
POSH Secures Contract to Tow Shell Prelude FLNG from S.Korea to Australia
Singapore's PACC Offshore Services Holdings secures a contract to tow Shell's Prelude floating liquefied natural gas facility from South Korea to the Prelude field offshore Australia.
7:00 PM EST | January 11, 2016
Blame It on Oil: 2016 Unhappy New Year for Asian Shipyards
With oil prices forecast to fall as low as $15 a barrel and China's growth slowing, orders for offshore projects and new vessels are hard to come by for the world's three biggest shipbuilders.
7:00 PM EST | January 03, 2016
Bruised Asian Shipyards Prepare for Eventual Market Upswing
Battered Asian shipyards suffering from the most severe downturn in the offshore segment in recent years take steps to improve their future prospects.
7:00 PM EST | December 21, 2015
PETRONAS FLNG2 Reaches Milestone with Keel Laying at SHI's Shipyard
PETRONAS celebrates construction milestone for PETRONAS Floating LNG2 at a keel laying ceremony at Samsung Heavy Industries' shipyard in Geoje Island, South Korea.
7:00 PM EST | November 08, 2015
Pacific Drilling Cancels Contract with SHI to Build Pacific Zonda Drillship
Pacific Drilling terminates contract with Samsung Heavy Industries for the construction of the Pacific Zonda ultra-deepwater drillship.
8:00 PM EST | October 29, 2015
SBM Offshore Secures Browse FLNG Turret FEED Contract from Technip
SBM Offshore secures a front-end engineering and design contract for three large-scale turret mooring systems for the proposed Browse floating natural gas project offshore Western Australia from Technip.
8:00 PM EST | October 18, 2015
HHI, SHI & DSME Working to Standardize Offshore Design
South Korea's Hyundai Heavy Industries together with Samsung Heavy Industries and Daewoo Shipbuilding & Marine Engineering are working to standardize offshore design to lower cost and ease project delays.
8:00 PM EST | October 13, 2015
Samsung Heavy Industries Orders a FSRU Unit from GTT for Delivery in 2017
Samsung Heavy Industries orders a floating storage and regasification unit from GTT for delivery in 2017.
8:00 PM EST | September 28, 2015
Ichthys LNG Project Launches CPP at SHI's Geoje Yard in South Korea
The Inpex-operated Ichthys LNG Project launches its central processing platform - the world's largest semisubmersible - at Samsung Heavy Industries shipyard in Geoje, South Korea.
8:00 PM EST | September 24, 2015
SHI Agrees to an 18-Month Delay in Delivery of Drillship to Ocean Rig
Samsung Heavy Industries agrees to delay delivery of an ultra deepwater drillship to Ocean Rig by 18 months to June 2017.
8:00 PM EST | September 13, 2015
Samsung Heavy Reports Quarterly Operating Loss of $1.3B
Samsung Heavy Industries Co., South Korea’s third-largest shipbuilder, reports an operating loss of $1.3 billion in the second quarter, far worse than analysts were expecting.
8:00 PM EST | July 28, 2015
World's Top 3 Shipbuilders Post Record Loss on Deep-Sea Failures
The world's three biggest shipbuilders posted a combined $4.1B in operating losses in the second quarter, paying the price for a failed foray into deep-sea oil rigs.
8:00 PM EST | July 28, 2015
Deep-Sea Plan Fails, Leaving Korean Shipyards Struggling
The deep-ocean strategy is coming back to bite South Korean shipyards.
8:00 PM EST | July 26, 2015
DNV Launches JIP with South Korean Yards to Reduce Project Cost by 15%
DNV GL launches joint industry project with South Korean yards to reduce project cost by 15 percent.
8:00 PM EST | July 22, 2015
Samsung Heavy Industries Clinches $4.7B Contract to Build 3 FLNGs for Shell
South Korea's Samsung Heavy Industries clinches a $4.7 billion contract to construct three floating liquefied natural gas facilities for Shell.
8:00 PM EST | July 02, 2015
Technip Samsung Consortium Bag 2 Deals from Shell for Browse FLNG Project
The Technip Samsung consortium bags two contracts from Shell for the Browse floating liquefied natural gas project offshore Western Australia.
8:00 PM EST | July 02, 2015
First Steel Cut for PETRONAS FLNG2 Facility at SHI's Geoje Shipyard
PETRONAS reaches milestone for its floating liquefied natural gas 2 facility with first steel cut at Samsung Heavy Industries' shipyard in South Korea.
8:00 PM EST | June 15, 2015
Yokogawa to Supply Control & Safety System for Petronas' PFLNG2 Facility
Yokogawa wins contract to supply a control and safety system for Petronas' floating liquefied natural gas facility (PFLNG2) now under construction in South Korea.
8:00 PM EST | March 25, 2015
North Sea's Valemon Platform Successfully Hooked Up
Wood Group Mustang Norway reports the successful hook-up of Statoil's Valemon platform in the Norwegian North Sea.
7:00 PM EST | February 23, 2015
ABB Lands $50M Electrical System Supply Contract for Petronas’ PFLNG2
ABB lands a $50 million contract from JGC to supply the electrical system for Petronas’ PFLNG2.
7:00 PM EST | February 05, 2015
Douglas-Westwood: 'Offshore EPC - All Change'
DW Monday briefly discusses the realignment in Asia's offshore engineering, procurement and construction landscape.
8:00 PM EST | October 19, 2014
Maersk Drilling in Talks to Secure Contract for Newbuild Maersk Voyager
Maersk Drilling is in talks to secure a contract for Maersk Voyager drillship, which was named in a ceremony at Samsung Heavy Industries' Geoje-Si shipyard in South Korea.
8:00 PM EST | September 25, 2014
Samsung Heavy Industries to Merge with Samsung Engineering
Samsung Heavy Industries will merge with Samsung Engineering Co. to establish a total solution provider for shipbuilding and onshore and offshore services.
8:00 PM EST | August 31, 2014
Turret for Shell's Prelude FLNG En Route from Dubai to SHI's Geoje Yard
Shell reports that the giant turret module for the Prelude floating liquefied natural gas facility has set sail from Dubai for Samsung Heavy Industries shipyard at Geoje, South Korea.
8:00 PM EST | August 17, 2014
Statoil Installs Valemon Topsides
Statoil installs the topsides for the Valemon field in the Norwegian North Sea.
8:00 PM EST | July 28, 2014
SHI Clinches $1.3B Contract to Build 2 Drillships
Samsung Heavy Industries clinches a $1.3 billion contract to build two drillships.
8:00 PM EST | April 09, 2014
Inpex Celebrates Milestone in Construction of Ichthy Gas Project's CPF
Inpex celebrates a major milestone in construction of a central processing facility currently being built for the Ichthys gas project off Western Australia.
8:00 PM EST | April 02, 2014
Newbuild Maersk Viking Heads to the GOM to Commence Work for ExxonMobil
Newbuild drillship Maersk Viking departs Samsung Heavy Industries' Geoje-Si shipyard in South Korea to begin a contract with ExxonMobil in the Gulf of Mexico.
7:00 PM EST | February 24, 2014
Wartsila to Supply Pumping Solution for Mariner Oil Field's FSU
Wartsila inks contract to provide pumping solutions for a floating storage unit being built by Samsung Heavy Industries for the Mariner oil field in the North Sea.
7:00 PM EST | February 13, 2014
Petronas Proceeds with PFLNG 2 Project, Awards EPCIC Deal to JGC-SHI JV
Petronas proceeds with plans for a second floating liquefied natural gas facility to be located off Sabah, Malaysia and awards the EPCIC contract to the JGC-Samsung consortium.
7:00 PM EST | February 12, 2014
Shell Floats Hull for Prelude FLNG Vessel
Shell says that the 1,600-foot hull for the Prelude FLNG vessel, the world's largest floating facility, has been floated out of a dry dock in Korea.
7:00 PM EST | December 02, 2013
SHI Holds Naming Ceremony for Newbuild Maersk Viking Drillship in S.Korea
Maersk Drilling announces that the company's first ultra deepwater drillship Maersk Viking was named in a ceremony at Samsung Heavy Industries shipyard in Geoje-Si, South Korea.
8:00 PM EST | October 09, 2013
ENSCO DS-7 En Route to Angola for Work with Total
Ensco's newbuild ENSCO DS-7 drillship will leave South Korea to commence work for Total offshore Angola.
8:00 PM EST | September 04, 2013