Singapore, April 15, 2024 -- Seatrium Limited (Seatrium, or the Group) is pleased to announce that it has inked a non-binding Memorandum of Understanding (MoU) with energy company Shell Global Solutions International B.V. (Shell) to explore and strengthen collaboration opportunities in Floating Production Systems through leveraging both parties’ deep engineering capabilities and technologies.
The MoU, which focuses on driving project standardisation and replication, seeks to promote best practices in the design and construction of Floating Production Systems. Both parties intend to leverage their experience and know-how from previous projects to mature and realise further benefits of replication, tapping on each other’s competencies and technologies and incorporating lessons learned from past projects.
Seatrium and Shell have worked together on various projects over the years, including the recently-announced Sparta floating production unit (FPU), which is conceived as a replicable project to leverage the Group’s topsides single lift integration methodology, following the fabrication of Vito and Whale FPU newbuilds in 2021 and 2023 respectively.
Mr William Gu, Executive Vice President of Seatrium Oil & Gas (International), said, “We are pleased to deepen our collaboration with Shell, leveraging both parties’ competencies and technologies in past Floating Production Systems projects. We look forward to continue working with Shell to mutually learn and develop best-in-class project management practices to achieve operational efficiency in future floater projects, benefitting both parties.”
At a glance
- Company
- Seatrium Limited
- Announcement
- Partnership
- Location
- Singapore
People
- William GuExecutive Vice President of Seatrium Oil & Gas (International)
- Hilary MercerEVP Projects and Engineering, Projects & Technology, Shell
Products and programs
-End-
MOU Signing by Mr William Gu, Executive Vice President of Seatrium Oil & Gas (International), and Ms Hilary Mercer, EVP Projects and Engineering, Projects & Technology, Shell, joined by senior management teams of both companies
About Seatrium Limited
Seatrium Limited provides innovative engineering solutions to the global offshore, marine and energy industries. Headquartered in Singapore, the Group has over 60 years of track record in the design and construction of rigs, floaters, offshore platforms and specialised vessels, as well as in the repair, upgrading and conversion of different ship types.
The Group’s key business segments include Oil & Gas Newbuilds and Conversions, Offshore Renewables, Repairs & Upgrades, and New Energies, with a growing focus on sustainable solutions to advance the global energy transition and maritime decarbonisation.
As a premier global player offering offshore renewables, new energies and cleaner offshore & marine solutions, Seatrium is committed to delivering high standards of safety, quality and performance to its customers which include major energy companies, vessel owners and operators, shipping companies, and cruise and ferry operators.
Seatrium operates shipyards, engineering & technology centres and facilities in Singapore, Brazil, China, India, Indonesia, Japan, Malaysia, the Philippines, Norway, the United Arab Emirates, the United Kingdom and the United States.
Discover more at www.seatrium.com.
For more information, please contact:
Ms Judy Tan
Head, Investor Relations and Corporate Communications
Tel No: +65 9710 9784
Email: [email protected]
Ms Clarissa Ho
Senior Manager, Investor Relations and Corporate Communications
Tel No: +65 9632 1253
Email: [email protected]
If you detect any issues, problems, or errors in this press release content, kindly contact [email protected] to notify us (it is important to note that this email is the authorized channel for such matters, sending multiple emails to multiple addresses does not necessarily help expedite your request). We will respond and rectify the situation in the next 8 hours.
Questions around this news
What does the Seatrium–Shell memorandum of understanding cover?
The non-binding MoU sets out plans to explore closer collaboration on Floating Production Systems. Its stated focus is to standardise and replicate project approaches, promote design and construction best practices, and draw on experience and lessons from earlier projects. The companies also intend to use each other’s engineering capabilities, technologies and expertise.
Which previous projects are referenced in the announcement?
The release refers to the Sparta floating production unit as a recently announced project conceived for replication. It also cites the Vito and Whale newbuilds, fabricated in 2021 and 2023, respectively. The release says Sparta is intended to use Seatrium’s topsides single-lift integration methodology.
What is a floating production system?
A floating production system is an offshore facility that processes oil or gas produced from subsea wells. It can be stationed at a field and connected to underwater equipment, with processed output stored onboard or transferred to another vessel or pipeline. The specific configuration varies by project and operating needs.
What does a non-binding memorandum of understanding mean?
A non-binding memorandum of understanding records parties’ intentions and a framework for exploring or pursuing cooperation, without generally creating an enforceable obligation to complete the proposed arrangement. It can outline shared aims and areas for discussion; any binding commitments may require separate agreements. Its effect depends on the document’s wording and applicable law.
Earlier from Seatrium Limited
- Seatrium Strengthens Position as a Leading Repairs and Upgrades Shipyard
- Seatrium Partners With TenneT and GE Vernova For Third Offshore Wind Project In The Netherlands
- Seatrium Secures S$400 Million Green Loan from UOB for Eco-Projects
- Update on Empire Wind 2 Offshore Substation Platform
- Seatrium Secures Contract to Construct and Integrate Deep-Water Newbuild Project for Shell’s Semi-Submersible FPU
