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

ADNOC Secures LNG Supply Deal with India's BPCL

CNOOC Starts Production at Offshore Oil Filed Equipped with CCUS Tech

Santos Hires Weststar-GAP for Timor-Leste Offshore Helicopter Services

Petronas Preps for Sabah-Sarawak Gas Pipeline Decom Op

EnQuest to Acquire Harbour Energy's Vietnamese Assets

Abu Dhabi's NMDC Group Gets $1.1B Subsea Gas Pipeline Job in Taiwan

CNOOC’s South China Sea Oil Field Goes On Stream

ADES’ Fourth Suspended Jack-Up Rig Gets Work Offshore Thailand

Shell Shuts Down Oil Processing Unit in Singapore Due to Suspected Leak

Pharos Energy Extends Licenses for Two Vietnamese Gas Fields

Current News

Chuditch Gas Field Up for Summer Drilling Ops as Sunda Reshapes Ownership Structure

EnQuest Bags Two Production Sharing Contracts off Indonesia

Hanwha Drilling’s Tidal Action Drillship En Route to Petrobras’ Roncador Field

China's ENN, Zhenhua Oil Ink LNG Supply Deals with ADNOC

MODEC Wins ExxonMobil Guyana’s Hammerhead FPSO Contract

Mitigate SCC & HE to Keep Offshore Metal Structures Ship Shape

India Stretches Bids Deadline for 13 Offshore Deep-Sea Mineral Blocks

Indonesia Awards Oil and Gas Blocks to Boost Reserves

Sapura Energy Nets $22.6M in Offshore Support Vessel Contracts

CNOOC Puts Into Production New Oil Field in South China Sea

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