Dyna-Mac, China Merchants Heavy Industry Form JV Firm

Thursday, April 9, 2020

Singapore-based FPSO module specialist Dyna-Mac and China's offshore equipment and vessel builder China Merchants Heavy Industry Holdings (CMHIH) have entered into a joint venture deal.

Under the agreement, the two companies will create the DM-CMHI Heavy Industry company in China.

DM-CMHI Heavy Industry will specialize in providing engineering, procurement, construction and pre-commissioning works for topside modules, turrets, and topside modules integration, and onshore modules.

The target market for the JV's business is China (excluding Hong Kong, Taiwan, and Macao), and possibly other regions the company directors approve.

Dyna-Mac's part of responsibility will be identifying the required type and source of materials and resources to be used and deployed for the business, while CMHI will be providing access to and use of the required shipyard and their respective fabrication areas.

Providing rationale for the creation of the joint venture, Dyna-Mac said that it will gain access to China Merchants Heavy Industry's infrastructure while the Chinese shipyard specialist will be able to tap on the Dyna-Mac's experience and knowledge in the specific line of business.

Categories: Mergers & Acquisitions Industry News Asia China Singapore

Related Stories

MODEC and Samsung Team Up to Install Carbon Capture Tech on FPSO

Petronas to Retain National Authority After Sarawak Gas Deal

Petronas Greenlights Hidayah Field Development Off Indonesia

BP to Help Boost Oil and Gas Output at India’s Largest Producing Field

Vestas Lands First 15MW Offshore Wind Turbine Order in Asia Pacific

Pharos Energy Extends Licenses for Two Vietnamese Gas Fields

Floating LNG Conversion Job Slips Out of Seatrium’s Hands

INEOS Picks Up CNOOC’s US Assets in $2B Deal

Sunda Energy Closing in on Jack-Up Deal for Chuditch-2 Appraisal Well

Sembcorp Signs 10-Year LNG Supply Contract with Chevron

Current News

Fire at Petronas Gas Pipeline in Malaysia Sends 63 to Hospital

Japan’s ENEOS Xplora, PVEP Ink Deal for Vietnam Offshore Block

CNOOC Makes Major Oil and Gas Discovery in South China Sea

Valeura’s Assets in Gulf of Thailand Remain Operational After Earthquake

Op-Ed: Kazakhstan’s National O&G Firm Positioning Itself as Global Energy Player

Woodside to Shed Some Trinidad and Tobago Assets for $206M

CNOOC Sees 11% Profit Growth in 2024 Driven by Record Oil Production

‘Ultra-Mega’ Offshore Deal for L&T at QatarEnergy LNG’s North Field Gas Scheme

Keel Laying for Wind Flyer Trimaran Crew Boat

MODEC Gets Shell’s Gato do Mato FPSO Ops and Maintenance Job

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com