One heavy industry company in Korea has successfully completed many of the world's first and largest shipbuilding and offshore engineering, procurement and construction (EPC) projects. Now the goal is to establish global leadership in each of their participating market segments.
Most notably, it has achieved leadership in the high-tech, high-value shipbuilding sector by maintaining the world’s No. 1 share in the drill ship, liquefied natural gas (LNG) carrier and floating production storage and offloading (FPSO) unit markets.
The company developed and built the first Arctic shuttle tanker and LNG-FPSO units in the world, and has pioneered new markets by developing innovative products such as LNG floating storage and regasification units (FSRU), and ships for polar applications, including Arctic ice breaker container ships.
In the offshore facilities sector, the company has fortified its reputation through excellent technology and rich experience, by successfully delivering the world’s largest semi-submerged offshore drilling platform.
In addition, this company has operated the electricity and electronics business by converging its shipbuilding and offshore business with digital technology. It provides ship network systems, fuel gas supply and storage systems (FuGas), and ballast water management systems (PURIMAR). Its technological excellence often has been recognized in the global markets.
The Mexican Gulf region in the Caribbean Sea is home to billions of barrels of recoverable natural resources. When one large multinational oil company began work on a major project in the region, it was important that all systems function as planned. Any delay in the building or startup of this project could result in losing several million dollars per day.
Because this project was so large and complex, many stakeholders were involved in the race to build and commission the production facilities. When this happens, often producers overlook the critical role of collaboration and product specification.