Over 600 million US dollars! The crude oil production platform built by Hanhua Ocean for Qatar has been completed and put into operation

On July 30th, a fixed crude oil production platform (Fixed Platform) built by Hanwha Marine for Qatar's North Oil Company (NOC) was completed and put into operation at its Yupu Shipyard terminal in Juji.
The construction contract for this fixed crude oil production platform was signed in July 2021, with a contract amount of 725.3 billion Korean won (approximately 633 million US dollars at the time).

The platform consists of a Topside module, a Jacket platform, and an Interconnection Bridge, with a total weight of 34800 tons. It will be used in Al Shaheen, Qatar's largest offshore oil field, to increase crude oil production in the region.

NOC is a joint venture established in 2016 between Qatar Petroleum (QP) and global oil giant Total, with QP holding a 70% stake and Total holding a 30% stake. In 2017, NOC acquired the Al Shaheen oil field and began operating it for 25 years from July 14th of that year. Currently, the Al Shaheen oil field accounts for approximately 50% of Qatar's total oil production.

It is reported that the platform completed and launched this time is also the 31st fixed crude oil production platform built by Hanwha Marine since its establishment in October 1973, and this type of platform is also the largest number of marine engineering equipment built by Hanwha Marine.

At the same time, the platform construction project is also the project with the highest number of overseas cooperative companies participating among all the offshore equipment undertaken by Hanwha Marine. In recent years, there has been a trend in the global offshore equipment construction market to expand equipment procurement and production scope in the regions where shipowners are located. Therefore, the cooperation experience accumulated in the platform construction project is expected to play a significant role in helping Hanwha Marine's future order taking activities.

In order to promote the strategic transformation of its marine business, Hanwha Marine hired Philippe Levy, former president of SBM Offshore, a Dutch offshore oil and gas service provider, in April this year and appointed him as the head of the company's marine business unit.

The goal of Hanhua Marine Business Unit is to transform into an EPCIO solution provider for various floating offshore equipment and marine renewable energy related businesses, such as FPSOs, Floating Liquefied Natural Gas Production Storage and Offloading Units (FLNG). In May of this year, Hanwha Marine also acquired a 23.9% stake in Dyna Mac Holdings, a marine equipment manufacturer held by Singaporean shipbuilding company Keppel Group. Through this acquisition, Hanwha Marine is expected to expand its marine equipment production capacity, strengthen its price competitiveness, and gain a favorable position in global marine equipment project bidding.

Philippe Levy, Minister of the Marine Division of Hanwha, said, "Thank you to the employees and partner companies who have worked hard for the platform to depart on schedule. Hanwha Marine will make every effort to develop and lead industry standards through innovative changes