Samsung Heavy, Equinor agree on partnership in offshore plant EPC

[Photo provided by Samsung Heavy Industries Co.]

South Korea's major shipbuilder Samsung Heavy Industries signed a strategic agreement with Norwegian state-controlled energy giant Equinor to enhance their partnership in offshore plant’s engineering, procurement, and construction (EPC). The deal, the first strategic partnership for Samsung Heavy with a multinational energy company, is expected to help bolster the Korean shipbuilder’s offshore plant business. Equinor reaped $90.9 billion in revenue in 2021, and Samsung Heavy Industries has so far delivered 9 offshore plants for the Norwegian energy giant since 2002.

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