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June 6, 2012

Technip, DSME win Petronas FLNG deal

France's Technip and South Korea's Daewoo Shipbuilding & Marine Engineering (DSME) have won a $771m contract from Petronas to provide engineering services for a floating liquefied natural gas (FLNG) unit.

By admin-demo

France’s Technip and South Korea’s Daewoo Shipbuilding & Marine Engineering (DSME) have won a $771m contract from Petronas to provide engineering services for a floating liquefied natural gas (FLNG) unit.

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Under the deal, the Technip-Daewoo Consortium (TDC) will be responsible for engineering, procurement, construction, installation and commissioning (EPCIC) of the FLNG unit.

The FLNG vessel, which will have a length of 300m, width of 60m and maximum carrying capacity of 1.2 million tonnes per year, will be used to develop the Kanowit natural gas reserve off Bintulu, Sarawak.

Daewoo’s shipyard in Okpo, South Korea, will be responsible for the engineering of the hull and the construction of the FLNG unit.

The recent contract follows the completion of a deal won by TDC in December 2010 for the front-end engineering design phase.

Technip and Daewoo earlier won the $2bn project to build the facility which is scheduled to operational in 2015.

Once operational, the vessel is expected to increase Malaysia’s total LNG production capacity to 26.9 million tonnes a year from current 25.7 million tonnes.

DSME senior executive vice president and CBO Wan-Soo Ryu said, "DSME is expecting additional contracts with the development of underwater natural gas fields all over the world."

According to Petronas the FLNG unit will help unlock the gas reserves in Malaysia’s remote and stranded fields currently seems uneconomical to develop.

Currently, Technip operates a fleet of specialised vessels for pipeline installation and subsea construction in 48 countries.

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2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
  • Track the Aggregate Investment Volumes in PE/VC-Stage firms across geographies and sectors, in addition to viewing the specific deals that drove these volumes
  • Identify the top investors already active in any sector-Geography combinations
  • Assess the Performance of Financial and Legal Advisors, supporting the Dealmaking in any segment of choice (Customizable League tables)
  • Understand what is driving the PE/VC fundraising (Deal Rationale)
  Consult our full report here and optimize your business strategy.
by GlobalData
Enter your details here to receive your free Report.

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