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Daewoo Shipbuilding, Sembcorp Marine vying for $2 bln Chevron project

All News 10:28 July 09, 2018

SEOUL, July 9 (Yonhap) -- Daewoo Shipbuilding & Marine Engineering Co. (DSME) said Monday it is competing with Sembcorp Marine Ltd., a Singapore-based machinery company, to win a US$2 billion auction to build an offshore facility for U.S. energy giant Chevron.

DSME has been shortlisted in the bid to supply a floating production storage and offloading (FPSO) unit for Chevron's deep-water energy exploration project off the United Kingdom, a person familiar with the matter told Yonhap News Agency over the phone.

The Korean shipbuilder said it "is in the race to secure the project" though it didn't confirm if it is the sole Korean competing for the project. The FPSO is scheduled to be delivered by the middle of 2021.

Two other Korean shipbuilders -- Hyundai Heavy Industries Co. and Samsung Heavy Industries Co. -- said they participated in the bid but didn't make the final list.

Chevron is expected to select a preferred bidder as early as next month, the person said.

DSME's main office in downtown Seoul (Yonhap)


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