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.
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References in periodicals archive ?
The Chairman mentioned that the reason behind achieving such exceptional production rate is operating the second Glycol Injection Pump with 8 inches in diameter and the second offshore production line with 215 KM in length and 30 inches in diameter in August 2019, in addition to developing the marine control platform to utilize the second Electro-hydraulic cable with 160 KM length.
Zohr Total Investments Reach $10.6 B
It will see OEG supply a variety of cargo-carrying units for all Woodside's offshore production activities in Australia.
Container manufacturer's PS3.6m Australian deal; OFFSHORE
Belayim Petroleum (Petrobel) completed the construction of 18 km-long, 26-inch-diameter offshore production line and 25 km-long, 26-inch-diameter onshore line, as well as the manufacture and installation of the offshore production platform within the development of the Baltim South West gas field, three months ahead of schedule.
First well of Baltim South West gas field to start production within days: Petrobel
This offshore drilling campaign comes in continuation of investment projects for offshore production in the shallow waters of the Black Sea: over 350 million euro were invested between 2014 and 2018, including drilling ten new production wells and sidetracks, upgrading the gas compressor system and modernizing production facilities.
Romania : OMV Petrom started new drilling campaign in the Black Sea
The company has 4,000 employees, a fleet of 34 onshore drilling rigs, 13 jack-up offshore drilling rigs, a jack-up barge and a mobile offshore production unit, which includes a floating storage and offloading unit.
ADES names Numis Securities Limited as joint corporate broker
by Times News Service The seven-year contract will include the build, maintenance and operation of a production handling facility on a Mobile Offshore Production Unit (MOPU) as well as all topside processing equipment.
Expro awarded significant contract in India
Engineers involved in offshore oil and gas production are all too wearily accustomed to the mass media's inability to understand the difference between an offshore production platform and a drilling rig.
OFFSHORE CONFUSION
It holds interests in various onshore projects located in Doha, Dukhan and Mesaieed, and Ras Laffan Industrial cities and offshore projects in Halul Island, offshore production stations, drilling platforms, and the North field.
QATAR: QP LPG DEAL WITH CHINA
Drilling Rig Sagar Samrat was under conversion into a Mobile Offshore Production Unit (MOPU) for oil production from WO-16 Cluster.
ONGC reports strong numbers with quarter profit to Rs 8,264.6 crore
Regular instructions include issues pertaining to fossil fuel, renewable energy, low carbon supply chains, utilities, offshore production and energy technologies.
ENERGY / Tier1
Howbeit, the augmenting measure of offshore production and exploration activities in countries such as the U.S.
Zonal Isolation Market Revenue to Reach US$27.88 bn by 2024
Analysis by consultancy Douglas-Westwood has found that, although investment in new offshore production remains low, compared with pre-2014 levels, the outlook for maintenance, modifications and operations is 'notably more positive'.
Adipec sees big boost for Offshore and Marine

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