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Asia Pulse: SAMSUNG HEAVY CHRISTENS WORLD'S LARGEST OFFSHORE PLATFORM

SAMSUNG HEAVY CHRISTENS WORLD'S LARGEST OFFSHORE PLATFORM
Asia Pulse; May 11, 2006

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SEOUL, May 11 Asia Pulse – Samsung Heavy Industries Co. (KSE:010140), the global industry's No. 3 shipbuilder, today held a christening ceremony for the world's largest offshore platform, the company said.

The ceremony was held at its shipyard on Geoje Island, about 406 kilometers south of Seoul, the company said.

The platform, Lunskoye-A, measures 75 meters in width, 126 meters in length and 100 meters in height, equivalent to a 33-story building. It weighs 27,000 tons, which is comparable to about 20,000 midsize sedans, the company said.

The order for the platform was placed by Sakhalin Energy Investment Co., a joint venture led by Dutch energy developer Shell Sakhalin Holdings B.V. in 2003.

The platform will be installed at the Lunskoye gas field, about 14 kilometers offshore northeast of Sakhalin Island in Russia's Far East in July. It will drill for 42,000 tons of natural gas daily for 30 years, it said.

“Despite growing concerns about shipyards amidst the won's gain against the dollar, domestic shipbuilders are sharpening their competitive edge based on superb quality and advanced technology,” the company's CEO Kim Jing-wan said. (Yonhap)

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