Wison Offshore

What Wison Offshore does

Wison Offshore is the upstream oil and gas arm of Wison Group, specializing in floating LNG (FLNG) infrastructure. Founded in 1997 and headquartered in Shanghai, China, the company designs and builds offshore facilities that liquefy and process natural gas at sea, eliminating the need for onshore LNG terminals. Its core capability is end-to-end EPCIC (Engineering, Procurement, Construction, Installation, and Commissioning) delivery of FLNG vessels, with construction executed at its dedicated Nantong yard.

The company's technology portfolio centers on FLNG hull construction and topsides integration, proven through operational assets such as the Nguya vessel (built for Eni, currently supplying gas from offshore Congo to European markets) and ongoing work on the Genting FLNG (a $1 billion project that will be Indonesia's first floating LNG facility, processing gas from the Kasuri block in West Papua). These projects demonstrate capability across both the engineering and physical construction phases of complex offshore gas infrastructure.

Wison generates revenue through large, project-based EPCIC contracts awarded via competitive bidding to international oil companies, national oil companies, and gas-focused E&P players. Pricing is custom and contract-specific, with individual deals in the hundreds of millions to billions of dollars. The go-to-market is direct enterprise sales targeting senior decision-makers at energy majors, with pipeline visibility dependent on a small number of large anchor projects at any given time.

Name

Wison Offshore

Website

https://en.wison.com

Company type

Private

Founded year

1997

Operating status

Operating

Short description

Wison Offshore designs and builds floating LNG (FLNG) vessels under EPCIC contracts, serving international and national oil companies developing offshore gas reserves in infrastructure-constrained regions such as Congo and Indonesia.

Ownership category

akta.pro rank

Product category

Offshore Engineering & FLNG Construction

NAICS

Ship and Boat Building (3366), Oil and Gas Field Machinery and Equipment Manufacturing (333132), Mining and Oil and Gas Field Machinery Manufacturing (33313)

SIC

Oil & Gas Field Machinery & Equipment (3533)

akta.pro primary industry

LNG Liquefaction (Export Terminals) (EUAAACAE)

akta.pro secondary industries

LNG Carrier Shipbuilding (IMAJAAAD), LNG Import/Export Terminals (Liquefied Natural Gas) (TLAHABAL)

Keywords

• Floating LNG vessels
• Offshore gas liquefaction
• EPCIC services
• Offshore engineering construction
• FLNG shipbuilding

Headquarters

HQ city

Shanghai

HQ country

China

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Personnel, Infrastructure, Operations, Technology or R&D

Revenue model

1. EPCIC Contracts: Wison generates revenue through large-scale Engineering, Procurement, Construction, Installation, and Commissioning (EPCIC) contracts for floating LNG facilities. These are one-time project-based contracts with typical values in the hundreds of millions to billions of dollars, such as the $1 billion Genting FLNG project.

Go-to-market motion1 record

Distribution channels1 record

Core offering

Wison Offshore designs, constructs, and delivers floating LNG (FLNG) vessels and provides full-scope EPCIC services for offshore gas liquefaction facilities. The company builds FLNG hulls at its Nantong yard in China and delivers operational floating LNG plants that enable energy companies to monetize offshore gas reserves without requiring onshore infrastructure. Wison has delivered vessels like the Nguya for Eni and is building Indonesia's first FLNG facility for Genting under a $1 billion EPCIC contract awarded in June 2024.

Product overview

Wison Offshore is an engineering and construction company specializing in floating LNG (FLNG) solutions. The company offers a unified portfolio of offshore liquefied natural gas infrastructure, combining vessel construction services (hull construction at their Nantong yard) with full-scope EPCIC (Engineering, Procurement, Construction, Installation, and Commissioning) services. Wison has delivered FLNG vessels such as the Nguya for Eni and is currently building the Genting FLNG project, which will be Indonesia's first floating LNG facility. The company operates in the offshore gas development sector, targeting regions with infrastructure challenges.

Differentiator

Problem solved

Functional benefit

Products and services

• Floating LNG Plants (FLNG) Offshore liquefied natural gas facilities that liquefy and process natural gas at sea for export. Wison designs and builds FLNG vessels including the Nguya vessel operated by Eni, which supplies gas from offshore Congo to Europe. Targeted at international and national oil and gas companies seeking to develop offshore gas reserves.
• FLNG Hull Construction Construction of FLNG vessel hulls at Wison's Nantong yard facility in China. The company completed hull construction for the Genting FLNG project, representing the first phase of vessel build-out for Indonesia's first floating LNG facility.
• EPCIC Services for FLNG Facilities Full-service contract covering engineering, procurement, construction, installation, and commissioning of FLNG facilities. Wison holds a $1 billion EPCIC contract for the Genting FLNG project awarded in June 2024. Targeted at energy companies seeking turnkey delivery of floating LNG production assets.

Quantifiable outcome

• First FLNG facility for Indonesia, marking entry into new market

Named customers2 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Two partnerships are on record, tiered core.

• Genting (Genting Oil & Gas and Layar Nusantara Gas)coreStrategic or Co-development Partner · 1 June 2024Genting awarded Wison a $1 billion EPCIC contract in June 2024 for the construction of an FLNG facility for deployment in West Papua, Indonesia. This represents Wison's entry into Indonesia's first floating LNG project, processing gas from the Asap, Merah, and Kido structures in the Kasuri block. The project has an expected delivery date of 2026.
• EnicoreStrategic or Co-development PartnerWison built the Nguya floating LNG vessel for Eni, which operates the vessel for supplying offshore gas from Congo to European markets. This partnership demonstrates Wison's capability to deliver operational FLNG facilities for major international energy companies.

Scale indicators2 records

Recent moves4 records

Expansion highlights3 records

Direct peers

• Samsung Heavy Industries: Samsung Heavy Industries built the hull for Shell's Prelude FLNG, the world's first FLNG facility, making it the most direct comparable to Wison in FLNG vessel construction. Both companies are Asian shipyards competing for large-scale FLNG hull and topsides integration contracts from international oil companies.
• Hanwha Ocean (formerly DSME): Hanwha Ocean is a major Korean shipbuilder that has participated in FLNG and offshore LNG vessel construction. It competes with Wison for FLNG hull and EPC contracts and shares the Asian-yard positioning with deep offshore construction experience.
• Hyundai Heavy Industries: Hyundai Heavy Industries is a Korean shipbuilder with active FLNG and offshore LNG construction programs. It competes head-to-head with Wison for major FLNG vessel contracts and shares comparable yard infrastructure for large-scale offshore energy projects.
• TechnipFMC: TechnipFMC is a leading FLNG technology provider and EPC contractor with proprietary liquefaction processes and a global offshore project portfolio. It competes with Wison on full-scope FLNG EPCIC tenders and represents the most established Western competitor in this niche.
• Saipem: Saipem is a global offshore EPC contractor with significant FLNG and floating production experience, including major LNG projects. It competes with Wison for FLNG EPCIC contracts and brings comparable end-to-end engineering and offshore installation capabilities.
• Black & Veatch: Black & Veatch licenses its proprietary PRICO FLNG liquefaction technology and has been involved in multiple FLNG projects globally. It competes with Wison on the process-design and EPC side of FLNG tenders, particularly for mid-scale floating liquefaction facilities.
• MODEC: MODEC is a leading provider of floating production systems including FPSOs and has expanded into FLNG. It is comparable to Wison as a specialist floating infrastructure contractor serving international oil and gas clients with custom-engineered offshore solutions.
• JGC Corporation: JGC is a Japanese EPC contractor with extensive LNG plant experience and has been involved in FLNG and onshore LNG projects. It competes with Wison for large-scale LNG EPC contracts, particularly in Asia-Pacific and emerging markets.
• Chiyoda Corporation: Chiyoda is a major Japanese LNG EPC contractor with a long track record in large-scale LNG plant construction. It is comparable to Wison as a competing bidder on major LNG and FLNG projects, particularly those led by Asian NOCs and IOCs in Asia-Pacific.
• McDermott: McDermott is a global offshore EPC contractor with experience in FLNG, FPU, and subsea infrastructure. It competes with Wison for offshore LNG and gas development projects, particularly in deepwater and remote offshore regions requiring integrated EPCIC delivery.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Wison Offshore