{"id":131311,"date":"2026-08-25T09:32:16","date_gmt":"2026-08-25T09:32:16","guid":{"rendered":"https:\/\/www.europesays.com\/korea\/131311\/"},"modified":"2026-08-25T09:32:16","modified_gmt":"2026-08-25T09:32:16","slug":"hanwha-ocean-takes-on-4-trillion-won-namibia-floating-oil-facility-project-with-green-strategy","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/korea\/131311\/","title":{"rendered":"Hanwha Ocean takes on 4 trillion won Namibia floating oil facility project with green strategy"},"content":{"rendered":"<p>            <img decoding=\"async\" src=\"https:\/\/www.europesays.com\/korea\/wp-content\/uploads\/2026\/08\/20260826_01110114000005_L00.jpg\" orgwidth=\"1000\" orgheight=\"527\" alt=\"A bird's-eye view of the standard FPSO developed by Hanwha Ocean.\"\/>                      \uc0ac\uc9c4 \ud655\ub300                A bird&#8217;s-eye view of the standard FPSO developed by Hanwha Ocean.<br \/>\nHanwha Ocean has entered the bidding for a 4 trillion won floating production, storage and offloading unit (FPSO) for an offshore oil field in the Republic of Namibia and secured global classification certification for its low-carbon standard FPSO design. The move reflects the company&#8217;s effort to expand its offshore plant standardization strategy into the eco-friendly sector as clients increasingly demand carbon reductions.<\/p>\n<p>Hanwha Ocean said on the 25th that its low-carbon standard FPSO design system received approval in principle (AIP) from the Norwegian classification society DNV. It also obtained an AIP and a project sustainability execution plan (PSEP) certificate from the U.S. classification society ABS. DNV verified a system that incorporates emissions-reduction technologies for each greenhouse gas source into the design, while ABS validated an execution framework for carrying out and managing carbon-cutting targets in actual projects. The company can now apply the verified technologies directly to its design when a client requests carbon reductions.\n<\/p>\n<p>As global energy companies increasingly demand carbon reductions in new orders, eco-friendly competitiveness has emerged as a key evaluation criterion in the FPSO market.\n<\/p>\n<p>This is an extension of Hanwha Ocean&#8217;s strategy of building its order base with region-specific standard FPSO designs. In 2024, the company received certification from ABS and Bureau Veritas (BV) for a standard FPSO that can be applied across West Africa, including Namibia. This year, it also secured certification from ABS and DNV for a design optimized for South America.\n<\/p>\n<p>The company is also competing in an actual bidding process in African waters. According to the shipbuilding industry, Hanwha Ocean is in the final round of the FPSO bid for the Venus field development project in Namibia, led by TotalEnergies, against SBM Offshore of the Netherlands. The project is worth $3 billion, or about 4 trillion won. TotalEnergies plans to make a final investment decision (FID) in the second half of the year and begin oil production in 2030. The result of the client selection has not yet been announced.\n<\/p>\n<p>An FPSO is a facility that processes crude oil extracted from offshore fields, stores it, and then offloads it to transport vessels. Because each unit costs several trillion won, it is often seen as a jackpot that can quickly add to order intake. For Hanwha Ocean, which recently lost out in Canada&#8217;s submarine procurement race, it is considered a major opportunity to improve earnings visibility.\n<\/p>\n<p>If the Venus order is secured, low-carbon technologies can be incorporated into the design during discussions with the client. Venus is known as a project that is already carbon-conscious from the outset. TotalEnergies aims to keep emissions relatively low for a deep-sea development by adopting a method that injects gas produced during oil extraction back underground instead of flaring it.\n<\/p>\n<p>[Park Seung-ju]\n<\/p>\n<p style=\"font-size: 1.5rem;\">\nThis article has been translated by GripLabs Mingo AI.<\/p>\n","protected":false},"excerpt":{"rendered":"\uc0ac\uc9c4 \ud655\ub300 A bird&#8217;s-eye view of the standard FPSO developed by Hanwha Ocean. Hanwha Ocean has entered the&hellip;\n","protected":false},"author":2,"featured_media":131312,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[345],"tags":[2255,66943,355,354,373,66941,66942,17699,66944],"class_list":["post-131311","post","type-post","status-publish","format-standard","has-post-thumbnail","category-hanwha-ocean","tag-fpso","tag-green-strategy","tag-hanwha","tag-hanwha-group","tag-hanwha-ocean","tag-namibia","tag-oil-facility","tag-project","tag-standard-design"],"_links":{"self":[{"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/posts\/131311","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/comments?post=131311"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/posts\/131311\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/media\/131312"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/media?parent=131311"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/categories?post=131311"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/tags?post=131311"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}