Samsung units team up with AMEC on floating platforms

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Samsung units team up with AMEC on floating platforms

Samsung Engineering and Samsung Heavy Industries will form a joint venture in cooperation with British engineering firm AMEC to build fixed and floating offshore platforms, FPSOs (floating production storage and offloading units) and sub-sea pipelines for Samsung’s future offshore oil and gas projects.

The three companies said yesterday the joint venture, which is subject to final regulatory approval, has been named AMEC Samsung Oil and Gas LLC (ASOG). It is 51 percent owned by Samsung and 49 percent by AMEC.

It will be based in Houston, Texas, and will launch next month. The partners hope their cooperation will bring together AMEC’s world-renowned engineering capability and extensive experience in offshore projects, and Samsung’s leading project management expertise and shipbuilding technology.

Samsung intends to use ASOG for future front end engineering design and detail design of offshore projects, which will strengthen its core competence to meet the needs of its fast-growing offshore business.

“The ASOG joint venture will provide Samsung a wealth of broad-ranging and in-depth expertise for offshore projects,” said Andy Sallis, president of AMEC Oil & Gas Americas. “Through this dynamic partnership, we look forward to sharing our expertise and expanding our competencies and presence in this fast-growing offshore industry,” said C.H. Park, CTO of Samsung Heavy Industries.

Yonhap

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