Samsung Engineering News

Jumbo Kinetic recently lifted a giant 1,929 tonne Wash Tower, the heaviest cargo ever lifted by Jumbo.Samsung Engineering booked Jumbo to transport an ultra-heavy Wash Tower and 4 columns, including transport saddles, for the JUPC project in Saudi Arabia. The specialized Jumbo team handled the safe loading, sea fastening, and transportation of the 4 columns from Zhangjiagang, China and the Wash tower from Pyeongtaek, Korea to Jubail in Saudi Arabia.The Wash Tower weighs 1,929…

Petrofac, the international oil and gas services provider, leading a consortium with Saipem  and Samsung Engineering, has received an award notification for Thai Oil Public Company Limited’s (Thai Oil) Clean Fuels Project on the East coast of Thailand.The overall project value is around US$4 billion, of which Petrofac’s share is around US$1.4 billion, and will be completed over a period of approximately four years.The project will transform the existing oil refinery in Sriracha, Chonburi, into an environmentally-friendly facility, which will produce higher quality transportation fuels. The project will also increase the refinery’s production capacity from 275…

South Korean shipbuilder Samsung Heavy Industries Co will try again to merge with sister company Samsung Engineering Co Ltd later this year, reports Korea Times. Samsung Engineering CEO Park Jung-heum has said he will once again pursue a merger talk. "Before pushing for the deal, we need understanding from the financial markets, which we believe is a key condition," he told local reporters. Samsung Heavy's planned $2.5 billion takeover of Samsung Engineering collapsed in November due to shareholder opposition. Some investors were dubious about the benefits of combining a shipbuilder with an engineering and construction firm. Samsung Heavy was in deep trouble as low oil prices hit its offshore plant business.

Texas LNG appoints BNP Paribas as financial adviser for Brownsville LNG project, progresses FERC pre-filing process and completes over 60 percent of front end engineering and Design for facility. Texas LNG Brownsville LLC announced that BNP Paribas has been appointed as financial adviser for the Brownsville project. BNP Paribas will assist Texas LNG in the raising of equity and debt financing for the total capital requirements of the Project, including the execution of definitive transaction documents for achieving final investment decision (FID) and project construction.

Braemar Engineering, the marine and LNG technical consultancy arm of the Braemar Shipping Services PLC group, has been appointed as Owner’s Engineers by Texas LNG Brownsville LLC (Texas LNG) for the proposed Brownsville LNG project. The project will be constructed in a deepwater frontage site along the Port of Brownsville shipping channel, South Texas, and is anticipated to export more than 2 million metric tons per annum (MTPA) of LNG, with the first shipments planned for export in 2019.

Samsung Heavy Industries said on Wednesday it has decided to scrap a $2.5 billion stock deal to take over Samsung Engineering, potentially complicating restructuring plans by parent Samsung Group ahead of a looming succession. Shareholders doubting the synergies of the merger had asked the two companies to buy back their stock for a higher-than-budgeted $1.5 billion. This led the deal to unravel, both companies said in regulatory filings. Analysts said this shareholder dissent…

Texas LNG LLC today announced that it has received authorization from the U.S. Department of Energy (DOE) to export domestically produced LNG to all existing, and any future, countries that have, or enter into, an FTA with the Government of the United States. DOE approval of FTA exports is an important component of the regulatory process necessary to develop Texas LNG's project on its 110 plus acre site with deepwater frontage to the Port of Brownsville shipping channel in Brownsville, Texas, USA. Under the DOE's order, Texas LNG has received authority to export on its own behalf and as agent for others, up to the equivalent of 100 Bcf/y (approximately 2 MTA) of domestically produced LNG.

The recent 2013-14 National Budget of Trinidad and Tobago firmly highlighted the government’s intention to endorse Shipbuilding and Repair as a means of diversifying our traditional oil and gas economy. Trinidad & Tobago is in the middle of the world’s shipping lanes with an approximate 31,000 voyages per year passing within 25 nautical miles, positioning the location as an attractive choice for vessels traversing these principal routes. In addition, approximately 14,000 oceangoing vessels pass through the Panama Canal each year and this is expected to double after mid-2015…

Pacific Northwest LNG awards FEED contract, takes next step toward an LNG export terminal island on Lelu Island, near Port Edward. The front-end engineering and design (FEED) contract will see three firms working together to design the terminal and work on feasibility studies in the Port Edward area, were awarded to  Bechtel, a KBR/JGC joint venture, and a Technip/Samsung Engineering/China Huanqiu joint venture, reports 'The Northern View'. The FEED and Engineering, Procurement, Construction and Commissioning bid is expected to be complete by August 2014.  At the end of 2014 Pacific NorthWest LNG partners, Malaysia's national energy company, PETRONAS and Japex, plan to make the final investment decision on the project. Source: The Northern View

AMEC forms a joint venture with Samsung Heavy Industries & Samsung Engineering to serve the offshore energy sector. AMEC will  carry out design engineering for fixed and floating offshore platforms, FPSOs and subsea pipelines for Samsung’s future offshore oil and gas projects. The joint venture, which is subject to final regulatory approvals, has been named AMEC Samsung Oil and Gas LLC (ASOG). It is 51 per cent-owned by Samsung and 49 per cent by AMEC and will be based in Houston, Texas, United States. It will bring together AMEC’s world-renowned design engineering capability and extensive experience in offshore projects and Samsung’s leading project management expertise and shipbuilding technology.