6th, May 2014

First to Enter Offshore Plant Market in DeNOx SCR system

Following the supply PaNOx™, Panasia’s De-NOx SCR System, on Platform Supply Vessels(PSV) last year by using their core environment-friendly technology, which is the first achievement made in Korea, Panasia also succeeded in supplying its DeNOx SCR system to offshore plant facilities. The company is the first in Korea to enter the offshore plant market in the DeNOx facility field.

Panasia recently announced that it signed a contract with Samsung Heavy Industries (SHI) to supply this DeNOx system on Statoil’s FSU(Floating Storage Unit), which is being constructed by SHI. As a vessel that stores oil drilled from oil fields in the North Sea, an FSU is subjected to the NORSOK Standard, which is currently known to have the strictest regulations and procedures.

Panasia received high evaluations from SHI for not only possessing source technology on DeNOx facilities, including 22 domestic and oversea patents, but also for having multiple performance records of power plant installation in both Korea and overseas. Also, Panasia not only reviewed applicability through basic and detailed design technical meetings with SHI and completed assessment through quality inspection, but it also satisfied the contract condition of ‘providing A/S and spare parts within 24 hours’ requested by Statoil by utilizing the company’s global service network established across 35 countries around the world. These efforts made it possible for Panasia to become the first in Korea to enter the offshore market in the DeNOx facility field.

Panasia’s  DeNOx facility supply contract is being noted as a model case for fostering partnership and accompanied growth between large corporates and small business.

It is encouraging that SHI has continuously supported Panasia’s overseas marketing by inviting Panasia at their road show at Huston, which mainly promotes their environment-friendly drillship.

SHI also helped Panasia to overcome the high entrance barrier of the offshore plant market by enabling domestic production of core materials for offshore plants and realizing a competitive Supplier Relationship Management (SRM) through cost reduction and shortening period of delivery.