Chevron Contracts DSME to Build Platform Offshore Angola

DSME received an order from Chevron to construct an offshore platform for oil and natural gas production. The contract value of this platform is around USD 510 million.

The offshore platform will be constructed at the DSME shipyard in Okpo on Geoje Island and is scheduled to be delivered to the offshore oil field in Angola by the fourth quarter of 2013. The project is a turnkey package, in which DSME will take responsibility in designing, material purchases, installation and trial operation.

Weighing 18,758 tons, 62.5 meters in length, and 35 meters in width, the platform will be installed to boost processing capacity of the existing facility which is located on Block 0 of the Cabinda region on the northern part of Angola. The existing platform produces 100,000 barrels of crude oil and 4 million meters of natural gas per day. Once installed the facility will be capable of producing an additional 5 million meters of natural gas per day.

DSME has received 6 offshore platform orders from Chevron. The first platform bear the name South Nemba and Lomba, which stated in 1998.

"We are establishing a strategic partnership in a variety of fields including participation in the management of the Paenal Shipyard in Angola," a DSME official said. He continued to say, "Energy development projects are currently progressing smoothly, so we expect to secure new shipbuilding contracts through our local management businesses."

This latest contract put DSME's 2010 secured offshore plants at eight orders worth USD 4.05 billion.