DSME, $20 Billion Milestone Reached

On December 27, DSME received an order for an FPSO worth $2bn from European Oil Major. This is the largest-scale single order in the history of the shipbuilding industry in terms of contract amount and size.

DSME also received orders for one drillship from one company and two capsize bulk-carriers from another Asian company. This represents a noteworthy $3bn in combined orders.

With these new orders, DSME has posted new orders worth $21.5bn, well in excess of 2007’s target amount of $17bn. This is the first time DSME has surpassed $20bn in orders in one fiscal year.

In regards to the FPSO, this is the second time that DSME will be responsible for both the hull and topside module. The 325m long, 61m wide, 32m deep FPSO weighs 120,000 tons can hold 2,650,000 barrels of crude oil.

The contract was an EPCI contract covering the Engineering, Procurement, Construction, and Installation of the project, which marks DSME’s advancement into the offshore plant engineering field.

The turnkey contract calls for DSME to build and deliver the offshore plant by June 2011 to a West African oil field that can produce 200,000 barrels of crude oil daily.