Hanwha Ocean Showcases Marine Equipment Technology at International Offshore Plant Exhibition

16-18th at ‘Offshore Korea’

“Showcasing World-Class Technology”

4 Types of FPSO, LNG-FPSO, and Drillships

Hanwha Ocean will participate in the Offshore Korea 2024 international marine plant exhibition held in Busan for three days starting from the 16th, showcasing world-class marine equipment technology.

Hanwha Ocean will present a total of four types of marine products it prides itself on at the 7th Offshore Korea international marine plant exhibition this year.

These include FPSO (Floating Production Storage and Offloading), LNG-FPSO (LNG-Floating Production Storage and Offloading, FLNG), WTIV (Wind Turbine Installation Vessel), and drillships.

Hanwha Ocean has so far secured orders for a total of eight FPSOs (including LNG-FPSOs), successfully delivered seven, and is currently constructing one. The FPSO on display is the world's largest FPSO capable of producing up to 220,000 barrels of crude oil and 4.4 million cubic meters of natural gas per day. The LNG-FPSO is renowned as the first offshore facility of its kind built by Hanwha Ocean worldwide.

Hanwha Ocean's WTIV can carry and operate large offshore wind turbines of 15MW or 20MW capacity and install turbines at depths of up to 65 meters. Hanwha Ocean has secured the largest number of WTIVs domestically, with four vessels ordered; two have been successfully delivered, and two are currently under construction.

The drillship applies a design developed in-house by Hanwha Ocean and can drill up to 12 kilometers deep in ultra-deep waters of up to 3.6 kilometers. Equipped with two drilling towers, it reduces operation time by more than 25% compared to a single tower. Additionally, it features a dynamic positioning system for stable hull fixation and two explosion-proof safety devices for safe drilling operations, meeting both efficiency and safety standards.

Hanwha Ocean is focusing on expanding the marine energy value chain by strengthening its marine business. Following the appointment of Philip Levy, former president of SBM Offshore Americas, as head of the marine business division in April, the company is pursuing transformation into an EPCIO (Engineering, Procurement, Construction, Installation, and Operation) solution provider for floating offshore production facilities and marine renewable energy-related businesses.

The Offshore Korea international marine plant exhibition is the largest marine industry representative exhibition in Korea, held biennially and attracting over 15,000 visitors. This year, it will be held from October 16 to 18 at BEXCO in Busan, with about 200 companies from over 20 countries participating worldwide.