Cabinda Shipping Services (CABSHIP) announced on Wednesday that it had signed a Heads of Agreement with South Korean companies DSHI and DB Group.
Under the agreement, the companies will work together to obtain contracts and perform on and offshore EPCI projects, in an effort to boost the development in the Angolan oil and gas industry.
As part of the agreement, DSHI and DB Group will be responsible for project management, fabrication, procurement of long-lead items, transport and installations, pre-commissioning and commissioning assistance, while CABSHIP manages all logistics, procurement and subcontracts, local technical and engineering support, local construction management, sales, marketing, and infrastructure.
On the agreement, João Filipe, Founder, and Chairman of CABSHIP said: “We are excited to enter the offshore T&I segment and shipping building heavy industry, with DSHI and DB Group. In time, our Angolan industry will benefit from this collaboration through skills transfer and know-how. We look forward to be working with the experienced Korean O&G industry players in transferring years of collaboration in delivering Angola key offshore facilities.”
He added that DSHI and DB Group’s knowledge would support CABSHIP in creating local capacity for construction and fabrication.
“This is a true local content initiative, which will add the much needed in-country added value in the O&G value chain, without compromising, on our operational excellence objectives,” he said.