OceanMight, a subsidiary of the Malaysia-based engineering player KKB Engineering, is combining forces with South Korea’s Samsung Engineering for participation in worldwide tendering activity, which entails engineering, procurement, and construction (EPC) projects in the oil and gas arena.
The duo has entered into a memorandum of understanding (MoU) to cooperate and collaborate in the preparation, submission, and negotiation of tenders for projects around the world. The deal between the two players is valid for two years and subject to the terms of the MoU, which were not disclosed.
According to KKB, the projects that will be pursued during this strategic collaboration may involve a specialized scope of work and supply, such as EPC of offshore and onshore oil and gas process modules and structures. No further information about the projects or the MoU itself was made available.
Samsung Engineering has been busy with several projects lately. At the end of 2023, the firm kicked off front-end engineering design (FEED) work on Lotte Chemical’s green ammonia project, a part of H2biscus green hydrogen and ammonia project development in Sarawak, Malaysia.
The engineering, procurement, and construction scope is expected to start right after a final investment decision (FID) is taken for the project, which is anticipated to occur in 2024.
Last year, Samsung Engineering also teamed up with Carbon Clean to explore opportunities for onboard carbon capture solutions.