Hanwha Ocean's fixed platfrom achieves early oil production

Hanwha Ocean's offshore fixed oil platform in Al-Shaheen oil field, Qatar (Hanwha Ocean)

Hanwha Ocean, a shipbuilding unit of Korea’s Hanwha Group, announced Wednesday that its offshore oil platform began to produce crude oil two weeks before the expected date in Qatar.

The fixed platform first saw oil spring out on Sunday in the Al-Shaheen oil field, one of the world's biggest offshore oil fields located 80 kilometers northeast off the coast of Qatari capital, Doha.

It has been five months since the facility left Hanwha Ocean’s shipbuilding yard in Okpo, Geoje, South Gyeongsang Province in July.

As the marine facility successfully produced crude oil on a trial basis, it is ready for commercial production. The platform is capable of producing 50,000 barrels of crude oil daily. The North Oil Company of Qatar, the operator of the oil development in Al-Shaheen, will take over the facility after test operations and conduct commercial production.

Hanwha Ocean said early production was carried out without causing harm to the surrounding environment or to workers. The company also said it could be an example that proves Hanwha’s capability to produce and manage offshore plants, which require a high level of technology.

The offshore platform project began when the company won a 725 billion won ($505 million) contract from the NOC in 2021.

The facility was built by Hanwha Ocean by July and reached the oil field in the Persian Gulf. Over three months of assembly and testing of an operational system were completed there.

“For this offshore project, Hanwha Ocean and the client formed a one-team approach, ensuring seamless communication and swift decision-making. This approach enabled high-quality, safe and efficient execution, earning recognition as a successful offshore plant management model,” said Hanwha Ocean's President of Offshore Business Philippe Levy.

With the accomplishment in Qatar, Hanwha Ocean plans to accelerate its transformation from a shipbuilder to a lump-sum contractor which covers entire procedures of offshore projects, from engineering to project operation, especially in the Middle East region where more oil field developments are expected.