Hyundai signs MOU for localization initiative

Offshore staff

SEOUL, South KoreaHyundai Heavy Industries (HHI) has signed a memorandum of understanding to collaborate on the localization of main equipment and materials for offshore plants with Doosan Heavy Industries & Construction (DHIC) and Center for Creative Economy & Innovation in Ulsan and Gyeongnam.

HHI and DHIC agreed to develop six main items of equipment for offshore units such as FPSOs and tension leg platforms.

HHI will apply DHIC’s flagship power technology of gas turbine generators and heat recovery steam generators to its offshore plants, and the two companies will jointly develop metallic materials for offshore floating structures.

Since forming a task force team that took on the localization of main equipment in September 2014, HHI said it has successfully installed items including pressure vessels, air compressors, and heat exchangers onto offshore plants.

DHIC noted that it has also completed the development of low-temperature cast and forged materials for offshore plants in 2012. It has been striving to secure technology for the localization of high-efficiency large-sized gas turbines’ as the leading company of government’s national research project since 2013.

Kim Sook-hyun, COO of HHI’s Offshore & Engineering Division, said: “With most of the major equipment and materials imported from abroad, our localization initiative will drive our competitiveness forward in the offshore plant business.

“We are also enhancing our efforts to help local partner companies localize more items under the alliance with Center for Creative Economy & Innovation in Ulsan and Gyeongnam.”


Share your news with Offshore at

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...