Samsung Heavy wins 3.28 tln won vessel order

(ATTN: ADDS more details in paras 3-6; UPDATES share price in last para) SEOUL, May 31 (Yonhap) -- Samsung Heavy Industries Co., a South Korean shipbuilder, said Tuesday that it has won a 3.28 trillion won (US$3.03 billion) order to build a floating oil production and storage vessel. Under the deal with Shell Development Pty Ltd., Samsung Heavy will deliver the so-called floating production, storage and offloading (FPSO) vessel by September 2016, it said in a regulatory filing. In July 2009, Samsung Heavy signed an agreement with Royal Dutch Shell, Europe's largest oil company, to construct liquefied natural gas (LNG) facilities for up to 15 years. Royal Dutch Shell, headquartered in The Hague, is widely expected to place orders for up to 10 FPSO facilities, Samsung Heavy said earlier. Royal Dutch Shell is seeking to produce 3.5 million metric tons of LNG in seas off Australia's northwestern coast starting in 2016. Samsung Heavy delivered two oil FPSO platforms to Royal Dutch Shell in 2002. The shipbuilder developed the world's first LNG FPSO platform in 2008. Samsung Heavy said it has received $10.5 billion worth of orders so far this year, achieving 91 percent of this year's target of $11.5 billion. Shares of Samsung Heavy closed at 45,900 won on the Seoul bourse, up 1.77 percent.