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25-10-2012

Samsung and AMEC form joint venture

Samsung Engineering, the first and largest Korean engineering company, has formed a joint venture with Samsung Heavy Industries and AMEC to carry out the design engineering for fixed and floating offshore platforms, FPSOs and subsea pipelines for Samsung’s future offshore oil and gas projects.

The joint venture, which is subject to final regulatory approvals, has been named AMEC Samsung Oil and Gas LLC (ASOG). It is 51 per cent-owned by Samsung and 49 per cent by AMEC and will be based in Houston, Texas, United States. It will bring together AMEC’s world-renowned design engineering capability and extensive experience in offshore projects and Samsung’s leading project management expertise and shipbuilding technology. Samsung intends to use ASOG for future FEED (front end engineering design) and detail design of offshore projects, which will strengthen its core competence to meet the needs of its fast-growing offshore business. ASOG will initially be staffed by specialist staff seconded from the parent companies but it will also recruit externally with the aim of employing up to 500 people by 2018.
 
Andy Sallis, President of AMEC Oil & Gas Americas, said: “The ASOG joint venture will provide Samsung a wealth of broad-ranging and in-depth expertise for offshore projects. It is an exciting prospect and we look forward to a long and fruitful relationship.” C.H. Park, CTO of Samsung Heavy Industries said: “We are delighted to collaborate with a leading offshore engineering firm such as AMEC. Through this dynamic partnership, we look forward to sharing our expertise and expanding our competencies and presence in this fast-growing offshore industry.”

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