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Samsung Heavy wins $2.5 billion deal for offshore facility

Staff Writer |
Samsung Heavy Industries said Friday that it has clinched a $2.5 billion deal to build an offshore facility.

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Under the deal with Italian energy company Eni, Samsung Heavy, along with France's Technip and Japan's JGC, will build the floating LNG facility by June 2022, the company said.

Samsung Heavy's share in the deal is roughly $2.5 billion.

The FLNG facility, 439 meters long, 65 meters wide and 38.5 meters high, can process 3.4 million cubic meters of gas annually.

The facility will be deployed for the Coral South Project which develops gas wells in seas 250 kilometers northeast off the coast of Mozambique, according to Samsung Heavy.

With the latest deal, Samsung Heavy has won deals valued at a combined $4.8 billion to build a total of 13 ships so far this year.

Partners in the field development include Korea Gas Corp. (KOGAS).

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