Dyna-Mac Expands Fabrication Capacity with New Acquisition

Thursday, January 4, 2024

Singapore-based oil and gas module construction company Dyna-Mac has acquired Exterran Offshore, expanding its fabrication capacity for current and future projects.

Dyna-Mac signed a Share Purchase Agreement (SPA) to acquire 100% of the total issued and paid up share capital of Exterran Offshore for the aggregate price of $8.25 million.

Exterran Offshore will be integrated into the group and renamed to reflect the Dyna-Mac branding.

Through the acquisition, Dyna-Mac will secure access to Exterran Offshore’s yard facilities of approximately 4.5 hectares along Gul Road, which will provide additional fabrication capacity for its current and future projects.

This will in turn enable the company to undertake larger projects, more complex modular construction work, as well as those involving hydrogen and ammonia piping

The additional workshops will also allow Dyna-Mac to consolidate piping fabrication, reducing the need for outsourcing and rentals, thereby lowering costs, boosting productivity and improving overall product quality.

The new site, whose lease expires in 2030, is located beside Dyna-Mac’s main module assembly facility at Gul Road, and complements its on-going strategic reorganization of facilities along that stretch.

The acquisition will also extend the company’s projected total waterfront length along Gul Road to more than 680 meters.

The additional seafront is expected to enable Dyna-Mac to improve on its current method of construction via split modules, shortening time to deliver projects, as well as providing an option to work on cable manufacturing and modules for the pharmaceutical sector.

“This milestone not only reflects our dedication to growth and expansion, but also sets us up for sustained success and strengthens our position in the industry. We look forward to driving innovation, integrating the new facility’s strengths seamlessly into our operations, and delivering even greater value to all our stakeholders,” said Lim Ah Cheng, Executive Chairman and Chief Executive Officer of Dyna-Mac.

Categories: Energy Engineering Industry News Activity Asia

Related Stories

SBM Offshore Starts Construction of FSO for Trion Oil Field off Mexico

Brownfield Output Decline Accelerates, says IEA

PV Drilling Takes Ownership of Noble Corporation’s Stacked Jack-Up Rig

POSH Set to Tow Nguya FLNG from China to Eni’s Congo Field

DOF Secures Moorings Hook-Up Job in Asia Pacific

Synergy Marine Group Completes Conversion of LNG Vessel to FSRU

CNOOC Brings Online Another Oil and Gas Project in South China Sea

Technip Energies Gets FEED Job for Inpex’ Abadi LNG Project in Indonesia

Subsea7 Secures Work at Black Sea Field off Türkiye

EnQuest Enters Indonesia with Operatorship PSCs for Two Exploration Blocks

Current News

MODEC Ramps Up Hammerhead FPSO Work After ExxonMobil's Go-Ahead

Aesen, DOC JV Targets Subsea Cable Logistics

Timor Gap Boosts Stake in Finder Energy’s Timor-Leste Oil Fields

SBM Offshore Starts Construction of FSO for Trion Oil Field off Mexico

Russia Targets 2028 for Sakhalin-3 Gas Project Start Up

Seatrium Secures ABS Backing for Deepwater FPSO Design

MDL Secures Cable Laying Job in Asia Pacific

Hibiscus Petroleum Starts Drilling at Teal West Field off UK

Yinson Production Nets DNV Approval for New FPSO Hull Design

Hanwha Ocean's Tidal Action Drillship Starts Maiden Job with Petrobras

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