offshore production

offshore production

the devolvement, by a MULTINATIONAL ENTERPRISE engaged in the manufacture of a final product in a particular country, of part of its production operations to one or more of its overseas plants. In its strictest sense the term ‘offshore production’ refers specifically to the production overseas of components which are then exported and incorporated into the final product at the firm's main plant. With the increasing globalization of multinational firms' activities, the term is sometimes used also to describe the overseas production of some of the firm's final products which are then exported and sold alongside the firm's locally produced items as part of a comprehensive product range offering. Offshore production is undertaken primarily to enable a firm to maintain its international competitiveness by taking advantage of the lower labour costs of, and the financial subsidies offered by, HOST COUNTRIES wishing to attract FOREIGN INVESTMENT. See SOURCING.
References in periodicals archive ?
RasGas Company Limiteds (RasGas) Offshore Production Department (Shorebase) has completed an exceptional 19 years of operations without a Lost-Time Incident.
Global marine technology company, Kongsberg Maritime has appointed a new business manager for the offshore production division of its Kongsberg Maritime Ltd base in Aberdeen.
Petro-Canada Netherlands BV has operated interests in eight offshore production and exploration licences in the Dutch sector of the North Sea, including the operated De Ruyter (54% working interest) and Hanze (45% working interest) producing oil fields.
The boards of directors at Norwegian FPSO contractor BW Offshore Limited and offshore production systems developer APL ASA announced on Wednesday (21 February) that they have agreed to recommend to shareholders a merger of the two companies.
Offshore production has become big business in places like Halifax, Montreal, Toronto and Vancouver.
The pipelay scope of work calls for the installation of a 24-inch diameter, 314-mile export pipeline from the offshore production platform to the landfall location at Batangas on the island of Luzon, Philippines, in water depths varying between 656 and 2,323 feet.
The government, meanwhile, fights yesterday's "us versus them" battles, imposing quotas to stem a tide of imports that include American companies' offshore production.
Identify M&A targets by analyzing offshore production data (value, volume and share) on a company-by-company basis
Commenting on Wilson's appointment, Frank McLean, general manager of Kongsberg Maritime's Aberdeen base said: "David brings a wealth of experience to our Offshore Production division, having an impressive track record of sales and business development across the company.
and Sinopec Beijing Cheng Dao Xi (CDX), to provide turnkey power delivery products for an offshore production platform project in the South China Sea.
HOUSTON -- KBR (NYSE:KBR) announced today that its "Eos" joint venture with WorleyParsons, has been awarded a contract option worth approximately USD$24 million for the detailed engineering, procurement management and construction management assistance services for Woodside's Pluto LNG Project offshore production platform north west of Karratha, Western Australia.
Services include natural gas transportation, gathering, processing and storage; NGL fractionation (or separation), transportation, storage, and import and export terminaling; crude oil transportation and offshore production platform services.

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