South Korea’s Hanwha Ocean is making a big push in the offshore business.
The reborn shipbuilder has employed Philippe Levy, the former president of SBM Offshore Americas, as president of its offshore business division, as part of a strategic transformation.
The former Daewoo Shipbuilding & Marine Engineering said the appointment marks a pivotal moment as the Okpo yard embarks on a journey to transition from a traditional shipbuilder to an engineering, procurement, construction, installation and operation solution provider, offering floating production storage and offloading, floating LNG, offshore renewables and other floating production units.
Headquartered in Seoul, Hanwha Oceans’ offshore business division is expanding its global footprint by establishing new business offices in North America and Europe with the intention of becoming a project-centric, client-driven business organization.
“This transformation aims to offer enhanced project execution and knowledge-driven operational models by bridging the upstream culture of three continents across Asia, Europe, and America,” Hanwha Ocean said.
“Based on Levy’s experience in the management and execution of major engineering, procurement, construction and installation oil and gas projects, as well as his expertise in business development, global supply chain, project controls, construction and information systems, Hanwha Oceans expects Levy to be a key catalyst for the company’s transformational journey going forward.”
Levy worked at SMB Offshore for 25 years and has been president since 2020. He also has business experience as an executive adviser for CNOOC in Guyana, advising the co-ventures between ExxonMobil, Hess and CNOOC on execution strategies for FPSO and LNG development.
“I believe in the company’s mission and vision, and I am excited to lead the offshore business into its next phase of growth and success,” said Levy.
Hanwha Ocean is the world’s fourth-largest shipyard. It came under the control of Hanwha Group in May 2023, when the business conglomerate acquired a 49.3% stake in Daewoo Shipbuilding & Marine Engineering for KRW 2trn ($1.5bn).
