Global shipbuilding giant, Samsung Heavy Industries Nigeria (SHIN) Limited has again written Nigeria’s name in the global business and technology map with its recognition with award of ‘Excellence in Floating Production Storage Offloading (FPSO) Services’ under the utility/energy category of the 2021 Global Business Outlook (GBO) Awards.
The London-based publication recognises innovations, achievements, and strategies within the global business community, covering sectors on banking, finance, insurance, brokerage, technology, and leadership, among others.
The award, which is designed to facilitate the outstanding work of businesses and business leaders across industries, seeks to recognise and reward excellence in businesses around the world.
This recognition also extends to the private and public sector.
GBO award’s expansive focus on businesses of all sizes, in both broad and niche sectors makes it particularly outstanding.
According to the London-based publication, the process for selecting the winners for the Global Business Outlook Awards is carried out in an efficient manner.
While the jury considers all applicants during the first two weeks of the month, the winner applicants are personally informed within six weeks.
Samsung Heavy Industries Nigeria Limited is the only institution from Nigeria, which won in this year’s GBO Awards.
In accepting the Award for Excellence in FPSO services, Managing Director of Samsung Heavy Industries Nigeria, Mr. Jejin Jeon expressed his gratitude for receiving such an honorable award.
Citing the importance of local investment and capacity development, Jeon said, “Our 300million dollars investment in Nigeria through our fabrication and integration yard and welding training school has catapult Nigeria into the world stage”.
While the Water Engineering (WE) of Egypt won the award for ‘Best Use of Technology in Water Treatment,’ the award for the ‘Most Socially Responsible Steel Company’ went to Magnitogorsk Iron and Steel Works (MMK) of Russia.
Also the award for the ‘Best Waste Management Company’ went to Averda Waste Management Company of Saudi Arabia.
The Siraj Power of the United Arab Emirate (UAE) won the award of ‘Excellence in Commercial Rooftop Project Development (SirajPower-DP World partnership)’
SHIN’s parent company had also been honored with the ‘Best Shipbuilding Yard Award,’ presented by Lloyds List Maritime Asia Magazine at the ‘Best Company of the Year’ ceremony held at Sheraton Hotel, Malaysia.
SHIN broke the record in Nigerian Content development when it locally fabricated and integrated the Egina FPSO, which currently contributes 10 per cent of Nigeria’s daily crude oil production.
The company’s massive investment in the SHI-MCI yard in Lagos has also positioned Nigeria as the hub of FPSO fabrication and integration in sub-saharan Africa.
GBO award is not the first time SHIN would write Nigeria’s name in the global business map as it had received similar accolades and honours in the past.
SHIN, the leading operator of the SHI-MCI fabrication and integration yard, had won Breakthrough Deal of the Year 2018 and African Project of the Year at the prestigious Africa Assembly held in Paris in July 2019.
In addition to such achievements, SHIN had also won a highly commended award for the contribution to the development of regional maritime Cluster at the prestigious Sea trade Maritime Awards Middle East, Indian Subcontinent & Africa held in Dubai in September 2019.
SHIN has committed to empowering the African oil and gas industry through local content leadership.
Prior to the construction of the company’s fabrication and integration yard in Lagos, customers in the regional oil and gas industry had to work outside of Africa.
In order to complete the Egina FPSO project, SHIN made significant investment to develop a local workforce and facilities.
SHIN has retained its global leadership position in shipbuilding, offshore technology and world-class marine construction capability.
The Sea trade Maritime Awards are recognised internationally as the most influential in the industry with a very robust selection process led by independent judging panels consisting of CEOs from maritime companies around the world.
An impressive list of nominees was shortlisted, from over 120 entries across 20 countries, made it to 2019’s shortlist.
SHIN has also been recognised by the Nigerian Oil and Gas Opportunity Fair (NOGOF) for most impactful contribution to local content development since 2017 to date at the NOGOF 2019 awards ceremony held in Yenagoa, Bayelsa State in April 2019.
Jeon said the collaboration with Koreans and Nigerians working together at the SHI-MCI Yard in Lagos is seamless and efficient, adding that they are geared up for more FPSOs’ in the near future with multiple new projects in the pipeline.