Through Adewale Sanyaolu

Global Shipbuilding giant Samsung Heavy Industries Nigeria (SHIN) received the Forbes Award for the development of offshore oil and gas facilities at the prestigious Burj Al Arab, Dubai, United Arab Emirates (UAE).

Speaking at the Forbes Roundtable on Oil and Gas of the Africa-UAE Business Investment Forum held this weekend in the United Arab Emirates, SHIN Representative Mr. Youngkwon Lee congratulated the Federal Government of Nigeria and its agencies for their efforts to support foreign investors.

He also noted that with all of the major and exciting oil and gas projects expected to go live in the coming years, the future is bright for Samsung in Nigeria and Africa in general.

He listed the deep offshore projects that are essential for Nigeria’s economic development, including the Bonga Southwest project, the HA project, the Agbami FPSO project and many more that will be commissioned in the coming years.

Lee thanked Forbes and Foreign Investment Network for choosing SHIN as the winner of the Forbes Best of Africa Award for Offshore Energy Facility Development.

He recalled that the company’s partnership with Africa began well over 20 years ago when Shell’s FPSO Sea Eagle was executed in Nigeria.

This was closely followed by the main FPSO Shell Bonga, which at the time was hailed for producing over 200,000 barrels of crude per day, the first of its kind in Nigeria. After these two milestones, Samsung continued to work on the East ExxonMobil area as well as on the gas transport LNG carrier Bonny, ”he said.

Lee revealed that it was in recognition of Nigeria’s unlimited potential that SHI of Korea invested more than $ 300 million in Nigeria in 2014 to build the SHI-MCI Shipyard, a world-class manufacturing and integration facility in the Lagos Free Trade Zone to carry out the national aspect of the Egina FPSO project as well as other large-scale offshore projects in Nigeria.

He said the successful venture with NNPC and Total has enabled SHI to engage thousands of Nigerians, directly and indirectly, and also train them in its world-class Welding Qualification Center (WQC).

“Samsung believes in the future of Africa. We have a pan-African vision; Nigeria is a key part of this vision due to its centralized location and access to serve markets in the West Africa region and beyond. Africa in particular has one of the largest youth populations in the world with the greatest reserves of natural resources, ”he said.

“Our intention and goal is to make our shipyard the African hub for shipbuilding, repair and maintenance; Youth empowerment, including training and capacity development. We have demonstrated our ability to deliver on the most demanding terrains in the world.

Our teams are ready to embark on the next phase of our journey to Africa, working with the Federal Government of Nigeria and its agencies and international oil companies to develop the most effective and sustainable projects on the continent, ”added Lee.

Speaking at the reception of the award on behalf of SHIN, Lee said, “Our victory at the Forbes Prize is further proof of our corporate philosophy that responsible investing, fueled by a belief in people, liberates potentials that can lead to real change. “

He said the award was proof of the company’s vision for a future of extraordinary growth and opportunity.

Lee said the company believes in “a future where the combination of Korean efficiency and expertise, merged with Nigerian talent and passion, presents limitless possibilities for the future of shipbuilding, repair and maintenance of high value-added vessels to meet needs in Africa and beyond. “

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