ABB Wins $80 million Order From Samsung Heavy Industries
ABB recently won an order worth $80 million from Samsung Heavy Industries (010140.KS) to supply energy efficient drives, motors and electrical power systems for five drilling vessels and two liquefied natural gas (LNGLF) (LNG) carriers to be built at Samsung’s shipyard in Korea.
The vessels will be used to extract, process and transport oil and gas. The order was booked in the second quarter of 2012. Samsung Heavy Industries, a branch of the giant South-Korean holding, focuses its shipyard business on a wide range of large vessel types, including LNG carriers, drill ships and semi-submersible drilling rigs. Samsung is building five drill ships (three for Seadrill Ltd. in Norway, one for Pacific Drilling S.A in Brazil and one for Ensco Plc (ESV) in the UK) and two LNG carrier vessels for Golar LNG Ltd in the UK. The vessels will be used for oil and gas exploration and the transportation of liquefied natural gas. ABB’s delivery will help the ships maximize their energy efficiency, as well as provide a reliable power supply to improve the use of onboard equipment.
“This project underscores ABB’s excellent reputation for delivering comprehensive, reliable solutions that help our marine customers operate at the highest levels of efficiency,” said Veli-Matti Reinikkala, head of ABB’s Process Automation division. “ Our vast oil and gas industry expertise and resources help us to address the unique process requirements and operational challenges of offshore and at sea operations.”
ABB will deliver the complete electrical system for the seven vessels, including power generation and distribution equipment and systems, variable frequency drives and motors to power main propulsion systems and thrusters, as well as drives to power the topside drilling equipment. The project will be commissioned between 2014 and 2015. Further development of technologies to facilitate oil and gas exploration, extraction and transport from deep sea and other new sources represents a key global megatrend that is an important focus area for ABB’s long term growth. This project leverages the company’s deep understanding of this industry, and its marine application expertise.