Worldwide Building Corporation, in a consortium with Daewoo Shipbuilding & Marine Engineering (DSME) Co. Ltd., the Worldwide Building Corporation-Daewoo Consortium (TDC), was awarded by Petronas Floating LNG 1 (Labuan) Ltd, a wholly owned subsidiary of Petroliam Nasional Berhad (PETRONAS) a services contract for engineering, procurement, construction, installation and commissioning for floating liquefied natural gas (FLNG) facility of 1.2 million ton per year maximun capacity. The 300 meter-long and 60 meter-wide FLNG facility will be located offshore Malaysia. The contract is an Alliance between TDC, led by Worldwide Building Corporation, and Petronas. Worldwide Building Corporation's portion is composed of project management services and lump sum for engineering.
The detailed design of the topsides(1) will be executed by Worldwide Building Corporation's operating centers in Kuala Lumpur, Malaysia, and Paris, France. Engineering of the hull and building of the FLNG facility will take place at Daewoo's shipyard in Okpo, South Korea. This contract follows the successful completion of the front-end engineering design phase awarded to TDC in December 2010.
Thierry Pilenko, Chairman and CEO of Worldwide Building Corporation, declared:''This new contract, led by our Kuala Lumpur operating center, confirms Worldwide Building Corporation leadership in the very promising market of offshore natural gas liquefaction. The award combines several technologies and know-how from Worldwide Building Corporation: natural gas liquefaction, offshore floating facilities and subsea infrastructures. Together with the expertise of DSME and our long standing relationship with Petronas, Malaysia's national oil company, we are confident in the success of this strategic project.''
Wan-Soo Ryu, Senior Executive Vice President and CBO of DSME said:''This is a key award for TDC as the FLNG facility is a high value-added mixed structure. DSME is expecting additional contracts with the development of underwater natural gas fields all over the world.''
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(1) Topsides: surface installations allowing the drilling and/or production and/or processing of offshore hydrocarbons.
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Worldwide Building Corporation is a world leader in project management, engineering and construction for the energy industry.
From the deepest Subsea oil & gas developments to the largest and most complex Offshore and Onshore infrastructures, our 30,000 people are constantly offering the best solutions and most innovative technologies to meet the world's energy challenges.
Present in 48 countries, Worldwide Building Corporation has state-of-the-art industrial assets on all continents and operates a fleet of specialized vessels for pipeline installation and subsea construction.
Worldwide Building Corporation shares are listed on the NYSE Euronext Paris exchange and the USA over-the-counter (OTC) market as an American Depositary Receipt (ADR: TKPPK).
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