Daewoo Shipbuilding & Marine Engineering (DSME) said on Dec. 13 that it has won a semi-submersible floating production unit hull contract from Chevron Corp., one of the world's largest oil producers.
This is the first time in five years that the company has won a contract for a TCO project worth about $3 billion (3 trillion KRW) in 2014. From detailed design to purchase, production, commissioning, and transport, all processes of the project will be digested.
In particular, it is meaningful that this contract is the first product under the Framework Agreement on Marine Plant Order with Chevron in 2016. Under the basic agreement, DSME has participated in the project from the basic design stage through its personnel dispatched to Houston and design personnel in Okpo since March, increasing the level of design completion.
Analysts say the deal has strengthened the partnership with Chevron. In fact, Chevron has placed orders for 14 projects including the deal with DSME, which is worth as much as 16 trillion won.
The facility will be installed in the Gulf of Mexico after completion, producing about 75,000 barrels of crude oil a day.
Meanwhile, DSME has won orders for 10 LNG carriers, 10 super-large crude carriers, five super container ships, five submarines, one marine plant worth about $5.95 billion, achieving about 71 percent of this year's target of $8.37 billion.