Italy’s Saipem and South Korea’s Daewoo E&C Co. Ltd have signed a strategic deal for cooperation on targeted worldwide opportunities in the onshore oil and gas industry, with specific emphasis on the LNG sector.
By combining both companies’ assets and expertise in engineering, procurement and construction of onshore facilities, the two companies will focus on specific prospects with the target of creating efficiency and value to their customers.
The strategic alliance enhances and capitalizes on complementarity and synergies across the whole EPC value chain and establishes a key player capable of delivering superior solutions in global LNG construction.
As we focus on these two companies then Saipem is a leading company in engineering, drilling and construction of major projects in the energy and infrastructure sectors. It is “One-Company” organized in five business divisions (Offshore E&C, Onshore E&C, Offshore Drilling, Onshore Drilling and XSIGHT, dedicated to conceptual design). Whereas Daewoo E&C has been a leader in the construction industry in South Korea since its founding in 1973. Daewoo E&C is recognized as a world-renowned global construction company and aims to be a Global Top 20 by 2025.
Moreover, Daewoo E&C in a joint venture with Saipem has been nominated as a preferred bidder for the EPC of the Nigeria LNG Train 7 last September and Daewoo E&C is proud to demonstrate its meaningful entrance into the LNG engineering sector to the market.
This is a major project of both companies and their aim to achieving the corporate objectives of customers around the world.