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DSME awarded $635m platform contract in Qatar

South Korea’s Daewoo Shipbuilding & Marine Engineering (DSME) has landed a KRW725.3bn ($635m) contract with North Oil Company, a joint venture between Qatar Petroleum and TotalEnergies, to build a fixed offshore platform for the Al-Shaheen field, the largest oil field in Qatar.

The deal will see DSME construct a topside, a jacket, and an interconnection bridge with other facilities. Construction should be completed by the second half of 2023.

It is the first time in eight years that DSME succeeded in winning multiple orders for offshore facilities in one year. The company recently secured a $2.3bn contract with joint venture partner Saipem for the supply of the eighth floating production storage and offloading (FPSO) unit to be installed in Petrobras’ Búzios field.

This year, DSME has a total of 40 ships/units worth about $6.13bn, including 16 container ships, 11 super-large crude oil carriers, 9 super-large LPG carriers, 1 LNG carrier, 1 WTIV, and 2 offshore platforms. By winning the platform order, it has achieved about 80% of this year’s target of $7.7bn.

The Al-Shaheen oil field is located in Qatari waters, 80 km north of Ras Laffan, with facilities consisting of 33 platforms and more than 300 wells. It is Qatar’s largest offshore oil field and one of the world’s largest offshore oil fields.

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