Daewoo to focus on offshore facilities

The company projects sales this year to reach over KRW12 trillion ($11 billion) compared with KRW11 trillion last year, driven by its offshore facilities operations. “As oil prices are rising higher this year compared to last year, we expect a higher demand for offshore facilities from Southeast Asia and Brazil,” Nam said.

For 2011, DSME has set a target of $11 billion in new orders, almost the same as $11.2 billion last year.