Samsung Wins $3 Billion Order For Massive FPSO

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June 13, 2013

reuters logoSEOUL, June 13 (Reuters) – Samsung Heavy Industries Co Ltd said on Thursday its unit, Samsung Heavy Industries Nigeria, won a $3 billion order from an unnamed major oil company to build a floating production, storage and offloading vessel.

Out of the $3 billion order, Samsung Heavy Industries Co will build the hull and some upper parts of the vessel worth 1.955 trillion won ($1.72 billion), the South Korean shipbuilder said in a regulatory filing. The remainder will go to the Nigerian unit.

The vessel will have a storage capacity of 2.3 million barrels, the shipbuilder added. The contract is set to expire by June 2016.

($1 = 1133.6250 Korean won) (Reporting by Joyce Lee; Editing by Matt Driskill)

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