Samsung Heavy Industries("SHI") successfuly completed the North Sea bound offshore platform within the scheduled delivery date in the original contract.

SHI revealed on February 25th 2018 that one of the two offshore platform topside modules, worth KRW 1.18 trillion together, left its Geoje shipyard.

SHI-built Johan Sverdrup topsides are for a 26,000-ton process platform and a 23,000-ton riser platform.

The newly left topside is for the riser platform. It will arrive in Norway after about six weeks to be integrated on top of the already installed jacket. The process platform is to leave Geoje in December 2018.

The riser platform is for Johan Sverdrup field located 140km west to the shore near Stavanger. The gigantic field has an estimated reserves of 2.1~3.0 billion barrels of oil.

SHI explains that this project is a clear example of successful application of the 'Samsung Lessons Learned System.' A Samsung representative said "we allocated large number of workers with previous Statoil project experience to minimize known risks which resulted in the quickest completion of platform of the size."

SHI also put stringent focus on safety regulation to finish construction without any major injuries.

About Samsung Heavy Industries

Samsung Heavy Industries has successfully completed diverse projects With the aim of securing global leadership in various sectors including shipbuilding, offshore, machinery & electric systems.
Most notably, it has achieved unbeatable leadership in the high-tech high-value shipbuilding sector by maintaining the world’s No. 1 share in the drill ship, LNG carrier and FPSO markets.
The Samsung representative said "we expect to strengthen competitive edge even more in North Sea region where new project sanctions are coming thanks to this latest success in completion of the offshore platform construction."

About Statoil

Statoil ASA (OSE: STL, NYSE: STO) is an international energy company with operations in more than 30 countries, present in several of the most important oil and gas provinces in the world. Building on more than 45 years of experience from oil and gas production on the Norwegian continental shelf, we are committed to accommodating the world's energy needs in a responsible manner, applying technology and creating innovative business solutions. Statoil is among the world's largest net sellers of crude oil and condensate, the second-largest supplier of natural gas to the European market, and we also have substantial processing and refining operations. Statoil’s equity oil and gas production is around 2 million barrels oil equivalent per day. Statoil has contracted a fleet of around 90 ship for transportation of oil and LNG.
Statoil is headquartered in Norway with 21,000 employees worldwide, and is listed on the New York and Oslo stock exchanges.