Samsung Heavy and Vyborg Ink Cooperation Agreement

Samsung Heavy Industries Co. Ltd and Vyborg Shipyard JSC (VSY) signed, on November 26th 2013, Agreement for Cooperation to jointly participate in the potential projects issued by Russian companies.

Samsung Heavy Industries is a leading Shipyard in Korea in construction of sea-going civil vessels and offshore units. Vyborg Shipyard is one of the leading Russia’s shipbuilding yards in construction of sea-going civil vessels, multi-purpose platform supply vessels, semi-submersible floating drilling platforms for Arctic offshore oil and gas fields development.

Signing of the present Agreement will enable the parties to develop and offer to the potential customers the most attractive construction scheme of semi-submersible drilling rigs.

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Press Release, November 27, 2013