Samsung Heavy clinches FPSO order worth nearly $970 million

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South Korean shipbuilder Samsung Heavy Industries has received an order to build a floating production storage and offloading (FPSO) vessel for an unnamed Asian client.

In a regulatory filing on Monday, April 22, 2019, Samsung Heavy said it had signed a contract to deliver the FPSO by March 2022.

The value of the contract is 1.104 trillion won or about $967 million.

The FPSO will be built at Samsung Heavy’s Geoje shipyard in South Korea.

No further details have been released about the contract.

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