Member Article

Durham energy business announces Korean partnership

Durham-based business development organisation for oil, gas, nuclear and offshore renewables sectors, NOF Energy, has announced Korea Offshore & Ship Building Association (KOSHIPA) as its latest global partner.

The agreement is designed to facilitate increased co-operation between the UK and South Korean offshore supply chains.

The partnership follows the signing of a Memorandum of Understanding between the two organisations, at an industry event organised by NOF Energy in partnership with UK Trade & Investment in Aberdeen, to build relationships between UK and Korean companies.

Among the delegation joining KOSHIPA in the UK were Samsung Heavy Industries, Hyundai Heavy Industries, Daewoo Shipbuilding & Marine Engineering Company (DSME) and supply chain companies Kangrim, TSP, Samkang M&T, Stauff Korea

KOSHIPA, which represents a cluster of shipyard operators and supply chain businesses was established as a non-profit organisation in 1977, at a time when the South Korean shipbuilding industry was making its first significant inroads into the market.

The South Korean offshore industry has grown dramatically since 2005 and its oil & gas sector has experienced expansion and growth. One of its key exports is the supply of large, high specification floaters for drilling and production to the global markets.

NOF Energy’s Global Partner Network aims to open up opportunities for its network of almost 500 UK members and support collaboration across international markets and engagement. It features more than 22 organisations from countries including Canada, China, Denmark, Russia, Malaysia, Venezuela and the United States.

Deputy chief executive of NOF Energy, Joanne Leng MBE, said: “South East Asia offers real potential for British suppliers and the South Korean oil & gas sector is keen to engage with our supply chain as it looks to enhance its engineering and fabrication services with innovations and technology developed in the UK.

“KOSHIPA is a very like-minded organisation and is a perfect addition to our strong portfolio of global partners and we are delighted to have signed this new agreement and look forward to developing a close working relationship going forward.”