22nd Feb 2016 08:07
LONDON (Alliance News) - Industrial services provider Cape PLC on Monday said it had secured a contract with Samsung Heavy Industries to install insulation on Royal Dutch Shell PLC's Prelude floating liquefied natural gas project.
Cape will provide insulation to the cryogenic pipework on the process topside of the facility which, once complete, will be the largest floating offshore facility in the world. The substructure and topsides are currently under construction at Samsung Heavy Industries shipyard in South Korea.
No financial details were disclosed.
"I am delighted that Cape has been able to secure this contract and that we will be further developing our relationship with Samsung Heavy Industries," said Chief Executive Joe Oatley.
Cape shares were up 0.9% at 210.95 pence on Monday morning.
By Hannah Boland; [email protected]; @Hannaheboland
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