South Korea: DSME Exceeds Annual Sales Goal by 30%

DSME exceeded their annual sales goal by 30% by winning orders for a fixed platform and two 3,000 ton class submarines.

DSME received an order on December 20th 2012 from Statoil, a multinational energy company, to build a fixed platform and this contract also included the option for an additional platform. It will be installed at the Mariner oilfield in England’s North Sea continental shelf.

This platform will have 31,000ton scaled topside for oil production and yield 31,000 barrels of crude oil per a day. It will be constructed in Okpo shipyard and delivered at the end of 2016.

The most challenging aspect of this project is to create a platform that can operate successfully in the bad weather and intense cold that is common in the North Sea.

On the other hand, this contract is a perfect opportunity for DSME to showcase its advanced technology and construction skills in the offshore market.

DSME is especially proud to have become the first company in the world’s shipbuilding industry to have accomplished 10 billion USD in the offshore area. DSME’s offshore contracts form 82.5 % of total new order contracts for 2012.

On 26th December 2012, DSME won a new order for two 3,000 ton class submarines from the Korea Defense Acquisition Program Administration.

The value of this contact is approximately 1.5 billion USD and they will be delivered in 2022.

This contract is the first self-development project involving submarines. The existing 209 class and 214 class submarines were constructed based on designs from Germany’s HDW Company. However, this submarine will be developed exclusively in Korea by DSME.

During the last year (2012), DSME secured orders for 31 vessels, offshore platforms, and submarines worth approximately 14.2 billion USD.

[mappress]

Press Release, January 17, 2013