DSME Wins Drill Ship Construction Order

abarrelfullabarrelfull wrote on 05 Nov 2010 09:10
Tags: dsme kazakhstan services

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Daewoo Shipbuilding & Marine Engineering Co. (DSME), South Korea`s No. 2 shipbuilder, announced on Sunday that it has been awarded a drill ship order by a South Korean consortium led by the state-run Korea National Oil Corp.

The vessel measures 100 meters in length and 40 meters in width, and has a maximum 6,000 meters drilling depth capacity. The vessel will be used for an oil exploration project in the large Zhambyl oil field in Kazakhstan. The South Korean consortium previously won a stake in the project.

Given that the vessel’s operation area, the Caspian Sea, is surrounded by land on all sides, thereby making it difficult to transport large structures, DSME plans to complete construction by actively exploiting its Mangalia shipyard in Romania as well as local shipyards in the Caspian Sea region.

If oil is found in the Zhambyl oil field, oil production is likely to begin in 2018, and DSME expects that more orders for production facilities and plants needed for oil development would follow.

DSME explained that the company has been able to win the order, based on its abundant experiences and know-hows related to the project, while referring to its latest success as a tangible achievement of its overseas energy development projects. With its winning of the drill ship order, DSME has so far secured orders for fifteen vessels and two offshore products this year, raising $1.59 billion.

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