Samsung Wins FPSO Order

Thursday, December 09, 1999
Samsung has been granted orders worth a combined $250 million from Nigeria and Australia. The company said it will construct a floating production and storage offloading (FPSO) vessel valued at $90 million for the Nigerian arm of Shell Petroleum Co., as well as an FPSO for the Australian unit of Phillips Petroleum worth $160 million. The new orders allow Samsung to reach its full-year sales target of $2.2 billion. The company sold $2.04 billion worth of vessels in 1998.

Contracts

Austal Dives into Loss

Australia’s largest shipbuilder Austal posted a full year loss of $84.28 million because a program to build war ships for the US Navy took longer than expected.

Russian Shipbuilder Signs $1 bln Oil Rigs Contract with Iran

Russian shipbuilder Krasnye Barrikady and Iran's Tasdid Offshore Development Company (TODC)  have signed a deal worth $1 billion to build five offshore drilling

BP, ExxonMobil, ConocoPhillips 'Quit' Alaska LNG Project

BP, Conoco Phillips, and Exxon Mobil said that the 65-billion dollar megaproject would be too unprofitable for them to move into the next phase of development.

 
 
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