What is BEXCO?

As you may know, the Offshore Korea 2012 is held in BEXCO in Busan. Tell you what, do you know what it is? Today, in this post, I’d love to introduce BEXCO to you.

 

 

BEXCO was opened in 2001 with the aim of globalization, industrialization and informatization in Busan and Gyeongsangnam-do, which locate in the southeast of Korea. Its building is consisted 4floors from B1 to 3F and largely divided an exhibition hall, a convention hall, a multi-purpose auditorium and subsidiary facilities.

In particular, approximately 1,800 booths can be installed in the exhibition hall and the exhibition spaces can be readjusted according to clients’ requests. In addition, the outdoor exhibition hall is optimum for the large-scale events. In the meantime, it is used for various performances and events.

After opening, it was utilized as the spaces of the 2002 Korea – Japan World Cup group drawing and the press center during the 2002 Busan Asian Games. Apart from that, various global events, like 2005 APEC Summit and 2003 ICCA annual convention, are annually held.

On top of that, from 14^th to 16^th, the Offshore Korea 2012 is also supposed to be held in BEXCO. If you want more information about BEXCO, please visit the website. (http://www.bexco.co.kr/english/main/main.jsp)

 

 

 

The Offshore Korea 2012 economically values KRW 50b of ripple effects.

 

From 14^th to 16^th in this month, the Offshore Korea 2012 is held in Busan. It is hosted by the Korean government, Busan Metropolitan City and the other public organizations. As the 1^st offshore exhibition, it is expected that it would be greatly meaningful event for practitioners in the offshore industry.

 

In spite of a paid event, about 300 people have already finished their registrations to participate, so, far more people might visit the Offshore Korea 2012. Thus, Busan city and other host organizations have arranged to accommodate an excessive number of people.

 

On the other hand, according to Busan City, the Offshore Korea 2012 would generates approximately KRW 50b of ripple effects throughout the vitalization of relevant industries, like roughly $450m of purchases, exports counsel and contracts as well as tourism, exhibitions and accommodation while securing the status of the core city in the global offshore industry.

 

In the meantime, the conference and skull session are expected to be good opportunities to make a breakthrough to localize offshore plant equipment and prepare for securing the core technologies in the relevant sectors.

 

* This post was translated based on the article Maeil Business Newspaper had reported.

[Offshore News] Daewoo International sets to drill on Myanmar’s gas field

Daewoo International Co., Ltd, a Korean trading company, is finally going to work with the aim of beginning commercial gas production at Myanmar’s offshore fields following 12-year long efforts in exploring gas fields in Myanmar.

At the offshore yard of Hyundai Heavy Industries in Ulsan, Daewoo International held a ceremony marking the departure of the ‘Topside’, the gas production platform to be utilized at gas field in Myanmar. Topside refers to the upper part of the gas production platform. Once the upper part is integrated with a Jacket, the lower part of the platform installed in the seabed, the entire construction of gas production platform will be completed.

Passing through the Bay of Bengal and off the coast of Singapore for three weeks, the Topside will reach its destination in Myanmar - the A-1 gas field ‘Shwe’. Daewoo succeeded in the completion of gas production probes in January of 2004 after having secured the right for the gas field exploration from Myanmar’s Junta back in 2000. The gas fields in Myanmar include an estimated 4.5 trillion cubic feet of gas resources (equivalent to 800 million barrels when turned to oil), high enough to cover the country’s three-year natural gas consumption.

China National Petroleum Corporation (CNPC), which is an affiliated company of China National United Oil Corporation (CNUOC), is going to purchase all of the gas to be produced.

An official of Daewoo International said “The Myanmar gas fields are expected to bring in 300-400 billion won ($254.0 million - $338.7 million) per year for the next 25 to 30 years.”

*This post was referred to the article that Maeil Business Newspaper had reported.

http://news.mk.co.kr/newsRead.php?year=2012&no=728281

[Offshore News] Busan for the world’s best offshore plant cluster

Busan Metropolitan City has recently suggested the blueprint to build the world’s best offshore plant cluster taking that the Korean government designated Busan as an exclusive R&D zone.

According to that, enlarging the business base for shipbuilding and offshore for 10 years, expansion of global R&D infrastructure and nurturing specialists are main purposes.  In the meantime, it consisted of 4 core strategies and 12 tasks.

In particular, Busan Metropolitan City is going to promote approximately 50 high tech companies throughout the main purposes above for 10 years.

On top of that, Busan plans to attain over 0.01m of creation of jobs while fostering about 3 thousand mavens who received their master’s and Ph.d degrees in the offshore field.

* This post was written based on the article BBS had reported.

http://www.bbsi.co.kr/news/news_view.asp?nIdx=579752 

[Offshore News] S. Korean steel makers compete over thick plates for offshore structures

POSCO, Hyundai Steel and Dongkuk Steel, which are major steel makers in Korea, are fiercely competing over high value-added thick plates used for offshore structures, according to sources in the steel-making industry Tuesday.

POSCO has been implementing its strategies in order to increase sales of high value-added steel items for marine structures since last year.

The company is notably promoting sales strategies to sell steel products with the aim of ship-building in packages. Lately, the steel manufacturer has decided to supply its thick plates for the construction project of fixed platform awarded to Samkang M&T, the nation’s special steel-pipe provider.

Not only that, POSCO is expected to provide European-made best quality steel products in bulk for the construction of the world’s largest oceanic gas processing plants that Samsung Heavy Industries won from Australia last February.

In addition, two years ago, Hyundai Steel, another Korean steel corporation, started a steel plate business with a focus on thick steel for non-shipbuilding purposes. As a result, the company has developed a new product portfolio that chiefly comprises Thermo Mechanical Control Process (TMCP) steel for marine plants and corrosion-resistant steel for submarine oil pipelines.

Dongkuk Steel Mill has also slashed production of thick steel for shipbuilding and begun mass production of corrosion-resistant steel at its mill in Dangjin, Korea. The mill maker has concentrated on producing thick steel for non-shipbuilding purposes including welding structures and pressure boilers and won contracts in the businesses. The company successfully developed corrosion-resistant steel of a 120 millimeter-diameter and intends to develop that of a 150 millimeter-diameter within this year.

*This post is based on the article Maeil Business Newspaper reported.

http://news.mk.co.kr/newsRead.php?year=2012&no=709410

[Offshore News] SHI constructs a large-scale offshore wind farm in Jeju

Samsung Heavy Industries, a Korean shipbuilding company, is going to build a large-scale offshore wind farm in Jeju island with Korea Southern Power Corporation (KOSPO), which is a state-run company.

The shipbuilding company formerly announced that it obtained an order from its special purpose company (SPC) to build 12 units of 7-megawatt (MW) offshore wind turbines.

Earlier in September, SHI has a partnership with the KOSPO and established an special purpose company (SPC), namely, Daejeong Offshore Wind Power.

According to SHI, they have plans to finish the construction by the end of 2014 and start commercial operation from 2015.

During the contract, they will be responsible for the entire process including engineering, procurement, manufacturing, installation, as well as test operation of wind turbines and wind turbine foundations.

In the meantime, as advanced economies have been striving to enlarge the use of new renewable energy sources, the wind power market has an enormous potential in growth.

The European market for offshore wind power generation, especially, is projected to more than double from $13.5 billion (3.3 gigawatt, or 3.3 GW) in 2012 to $30 billion (7.3 GW) in 2020.

With the aim of tapping the rapidly growing European market, the ship manufacturer decided to install a 7 MW wind power turbine for test operation in Scotland in January this year and isigned a contract to establish the power grid system in the region to sell electricity produced from the wind farm. Afterwards, SHI built an engineering center in Hamburg, Germany in July to facilitate development of new technologies.

P.S. this post was referred to the article that Maeil Business Newspaper wrote.

http://news.mk.co.kr/newsRead.php?year=2012&no=664611