South Korea-based Hyundai Heavy Industries (HHI) has signed a memorandum of understanding (MoU) with Doosan Heavy Industries & Construction (DHIC) and Center for Creative Economy & Innovation in Ulsan and Gyeongnam to localise main equipment and materials for offshore plants.

Under the MoU, HHI and DHIC will share engineering and construction technology and experience in onshore and offshore plant sectors to develop six main pieces of equipment for offshore plants.

The equipment will include floating, production, storage and offloading (FPSO) units and tension leg platforms (TLP).

HHI Offshore and Engineering Division COO Kim Sook-hyun said: "With most of the major equipment and materials imported from abroad, our localisation initiative will drive our competitiveness forward in the offshore plant business.

"We are also enhancing our efforts to help local partner companies localise more items under the alliance with Center for Creative Economy & Innovation in Ulsan and Gyeongnam."

"The two companies will develop metallic materials for offshore floating structures."

HHI will apply the power technology of gas turbine generators and heat recovery steam generators of DHIC to its offshore plants.

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Together, the two companies will develop metallic materials for offshore floating structures.

HHI formed a taskforce that took on the localisation of main equipment in September 2014.

Since then, the company installed 38 major items including pressure vessels, air compressors and heat exchangers onto offshore plants from its yards.

In 2012, DHIC completed the development of ‘low-temperature cast and forged materials for offshore plants’.

Image: HHI and DHIC sign MoU to develop main equipment for offshore plants. Photo: courtesy of Hyundai Heavy Industries Co Ltd.