Samsung Heavy Industries (SHI) Company News

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Saipem to Expand Its Offshore Drilling Fleet
Wednesday, June 30, 2021Saipem is adding a new Samsung drillship to its offshore fleet. PHOTO SOURCE: Samsung Heavy Industries

BP Argos Platform Arrives in Texas
Wednesday, April 14, 2021The platform that will serve as the centerpiece of BP's Mad Dog 2 project has completed its journey from South Korea to the USA.

Texas Dealmaker Pursues Another Path
Sunday, October 18, 2020Here's a look back at some of the most viewed Rigzone articles tied to the downstream from the past week.

Delfin Hits FLNG Newbuild Milestone
Tuesday, October 13, 2020The FEED phase has concluded for Delfin Midstream's newbuild FLNG vessel.

Qatar Petroleum Signs Landmark LNG Deals
Tuesday, June 02, 2020Saad 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

$200MM Payment Ends Valaris Dispute with Samsung Heavy
Tuesday, December 31, 2019Valaris states the payment concludes a drillship dispute tied to a 2007 Pride International contract with SHI.

Samsung Wins Mad Dog 2 Fabrication Contract
Thursday, January 05, 2017Samsung wins contract for BP's Mad Dog 2 platform engineering and procurement work.

After 20,000 Job Cuts, World's Top Shipyards Brace for More
Wednesday, October 26, 2016South Korea's shipbuilding industry - home to the world's top three manufacturers - has eliminated more than 20,000 jobs this year.

South Korean Yards Restructure, Trim Workforce
Thursday, September 08, 2016While 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.

BW to Provide FSRU for Pakistan's Second LNG Terminal Project
Thursday, August 25, 2016BW 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.

Fox Petroleum Invites SHI to Bid for India's FSRU LNG Terminal Project
Monday, June 20, 2016Fox Petroleum invites Samsung Heavy Industries to participate in the floating storage regasification unit liquefied natural gas terminal project in Karnataka, India.

World's Top Three Shipyards Seek To Raise $7.3B In Revamp
Wednesday, June 08, 2016The 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.

SHI Receives Shell's Termination Notice for $4.7B FLNG Building Contract
Friday, April 29, 2016Samsung Heavy Industries receives a notice to terminate the $4.64 billion contract from Shell to build three floating liquefied natural gas units.

Royal Boskalis Awarded Johan Sverdrup Services Contract
Friday, April 01, 2016Royal Boskalis Westminster N.V. secures a contract by Samsung Heavy Industries for the transportation of topside modules for the Johan Sverdrup project, offshore Norway.

Cape Secures Contract from SHI for Shell's Prelude FLNG Facility
Tuesday, February 23, 2016Cape secures a contract from Samsung Heavy Industries for Shell's Prelude floating liquefied natural gas facility.

SHI Awards Ichthys LNG Project CPF Hook-up Services Contract to Clough
Wednesday, January 27, 2016Samsung Heavy Industries awards a hook-up services contract for Australia's Ichthys liquefied natural gas project central processing facility to Clough.

South Korea's HHI to Halt Ops at Onsan Shipyard Due to Industry Downturn
Monday, January 25, 2016South Korea's Hyundai Heavy Industries to halt operations at its Onsan yard amid the downturn in the global oil and gas industry.

POSH Secures Contract to Tow Shell Prelude FLNG from S.Korea to Australia
Tuesday, January 12, 2016Singapore'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.

Blame It on Oil: 2016 Unhappy New Year for Asian Shipyards
Monday, January 04, 2016With 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.

Bruised Asian Shipyards Prepare for Eventual Market Upswing
Tuesday, December 22, 2015Battered Asian shipyards suffering from the most severe downturn in the offshore segment in recent years take steps to improve their future prospects.

PETRONAS FLNG2 Reaches Milestone with Keel Laying at SHI's Shipyard
Monday, November 09, 2015PETRONAS celebrates construction milestone for PETRONAS Floating LNG2 at a keel laying ceremony at Samsung Heavy Industries' shipyard in Geoje Island, South Korea.

Pacific Drilling Cancels Contract with SHI to Build Pacific Zonda Drillship
Friday, October 30, 2015Pacific Drilling terminates contract with Samsung Heavy Industries for the construction of the Pacific Zonda ultra-deepwater drillship.

SBM Offshore Secures Browse FLNG Turret FEED Contract from Technip
Monday, October 19, 2015SBM 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.

HHI, SHI & DSME Working to Standardize Offshore Design
Wednesday, October 14, 2015South 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.

Samsung Heavy Industries Orders a FSRU Unit from GTT for Delivery in 2017
Tuesday, September 29, 2015Samsung Heavy Industries orders a floating storage and regasification unit from GTT for delivery in 2017.

Ichthys LNG Project Launches CPP at SHI's Geoje Yard in South Korea
Friday, September 25, 2015The Inpex-operated Ichthys LNG Project launches its central processing platform - the world's largest semisubmersible - at Samsung Heavy Industries shipyard in Geoje, South Korea.

SHI Agrees to an 18-Month Delay in Delivery of Drillship to Ocean Rig
Monday, September 14, 2015Samsung Heavy Industries agrees to delay delivery of an ultra deepwater drillship to Ocean Rig by 18 months to June 2017.

Samsung Heavy Reports Quarterly Operating Loss of $1.3B
Wednesday, July 29, 2015Samsung 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.

World's Top 3 Shipbuilders Post Record Loss on Deep-Sea Failures
Wednesday, July 29, 2015The 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.

Deep-Sea Plan Fails, Leaving Korean Shipyards Struggling
Monday, July 27, 2015The deep-ocean strategy is coming back to bite South Korean shipyards.

DNV Launches JIP with South Korean Yards to Reduce Project Cost by 15%
Thursday, July 23, 2015DNV GL launches joint industry project with South Korean yards to reduce project cost by 15 percent.

Samsung Heavy Industries Clinches $4.7B Contract to Build 3 FLNGs for Shell
Friday, July 03, 2015South Korea's Samsung Heavy Industries clinches a $4.7 billion contract to construct three floating liquefied natural gas facilities for Shell.

Technip Samsung Consortium Bag 2 Deals from Shell for Browse FLNG Project
Friday, July 03, 2015The Technip Samsung consortium bags two contracts from Shell for the Browse floating liquefied natural gas project offshore Western Australia.

First Steel Cut for PETRONAS FLNG2 Facility at SHI's Geoje Shipyard
Tuesday, June 16, 2015PETRONAS reaches milestone for its floating liquefied natural gas 2 facility with first steel cut at Samsung Heavy Industries' shipyard in South Korea.

Yokogawa to Supply Control & Safety System for Petronas' PFLNG2 Facility
Thursday, March 26, 2015Yokogawa wins contract to supply a control and safety system for Petronas' floating liquefied natural gas facility (PFLNG2) now under construction in South Korea.

North Sea's Valemon Platform Successfully Hooked Up
Tuesday, February 24, 2015Wood Group Mustang Norway reports the successful hook-up of Statoil's Valemon platform in the Norwegian North Sea.

ABB Lands $50M Electrical System Supply Contract for Petronas’ PFLNG2
Friday, February 06, 2015ABB lands a $50 million contract from JGC to supply the electrical system for Petronas’ PFLNG2.

Douglas-Westwood: 'Offshore EPC - All Change'
Monday, October 20, 2014DW Monday briefly discusses the realignment in Asia's offshore engineering, procurement and construction landscape.

Maersk Drilling in Talks to Secure Contract for Newbuild Maersk Voyager
Friday, September 26, 2014Maersk 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.

Samsung Heavy Industries to Merge with Samsung Engineering
Monday, September 01, 2014Samsung Heavy Industries will merge with Samsung Engineering Co. to establish a total solution provider for shipbuilding and onshore and offshore services.

Turret for Shell's Prelude FLNG En Route from Dubai to SHI's Geoje Yard
Monday, August 18, 2014Shell 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.

Statoil Installs Valemon Topsides
Tuesday, July 29, 2014Statoil installs the topsides for the Valemon field in the Norwegian North Sea.

SHI Clinches $1.3B Contract to Build 2 Drillships
Thursday, April 10, 2014Samsung Heavy Industries clinches a $1.3 billion contract to build two drillships.

Inpex Celebrates Milestone in Construction of Ichthy Gas Project's CPF
Thursday, April 03, 2014Inpex celebrates a major milestone in construction of a central processing facility currently being built for the Ichthys gas project off Western Australia.

Newbuild Maersk Viking Heads to the GOM to Commence Work for ExxonMobil
Tuesday, February 25, 2014Newbuild drillship Maersk Viking departs Samsung Heavy Industries' Geoje-Si shipyard in South Korea to begin a contract with ExxonMobil in the Gulf of Mexico.

Wartsila to Supply Pumping Solution for Mariner Oil Field's FSU
Friday, February 14, 2014Wartsila 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.

Petronas Proceeds with PFLNG 2 Project, Awards EPCIC Deal to JGC-SHI JV
Thursday, February 13, 2014Petronas 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.

Shell Floats Hull for Prelude FLNG Vessel
Tuesday, December 03, 2013Shell 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.

SHI Holds Naming Ceremony for Newbuild Maersk Viking Drillship in S.Korea
Thursday, October 10, 2013Maersk 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.

ENSCO DS-7 En Route to Angola for Work with Total
Thursday, September 05, 2013Ensco's newbuild ENSCO DS-7 drillship will leave South Korea to commence work for Total offshore Angola.