Input 2021.01.27 14:25
According to industry sources on the 27th, Korea Shipbuilding & Marine Engineering signed a main contract with POSCO International at the POSCO Center in Seoul for the construction of the 1st gas boosting platform with a scale of 27,000 tons (tons), which will be used for the development of the 3rd stage gas field in Myanmar. The signing ceremony was attended by Kwon Oh-gap, Chairman of Hyundai Heavy Industries Holdings, Ga Sam-hyun, President of Korea Shipbuilding & Marine Engineering, Jeong Ki-seon, CEO of Hyundai Heavy Industries Group Ship and Offshore Sales Division, POSCO Chairman Choi Jeong-woo, and Jujibo POSCO International President.
The gas boosting platform is a facility that allows additional gas to be recovered from the basement where the pressure is lowered according to the cumulative production of the Myanmar gas field. Korea Shipbuilding & Marine Engineering conducts all processes such as design, purchase, manufacturing, transportation, installation, and commissioning of this construction by the EPCIC method. It will be manufactured by Hyundai Heavy Industries in Ulsan and installed in the Shwe gas field in the Bay of Bengal, Myanmar in the first half of 2024. Korea Offshore & Shipbuilding had produced and delivered a gas production platform for POSCO International’s Phase 1 gas field project in Myanmar in 2013.
The Myanmar gas field started commercial production in 2013 through the first phase of development. It supplies about 500 million ft³ (cubic feet) of gas per day to China and Myanmar. It is in charge of the cash cow of POSCO Group’s gas business, recording annual operating profits of between 300 and 400 billion won. Currently, the Myanmar gas field is in the second phase of the project to develop additional production wells with the goal of 2022.