KHANCO LTD
KHAN CO LTD is a South Korean privately held provider of offshore engineering, fabrication, hook-up and commissioning, and shipbuilding services for international oil companies, national oil companies, shipbuilders, and drilling contractors across 30+ countries, with proprietary subsea and simulation technology and owned yards.
- Company typePrivate
- Founded2006
- HeadquartersGeoje-si, South Korea
- Headcount—
- GTM type—
- Offering—
What KHANCO LTD does
KHAN CO LTD is a privately held South Korean offshore engineering, fabrication, and commissioning services provider founded in 2006 and headquartered in Geoje-si. The company delivers full-lifecycle solutions to international oil companies (BP, Shell, Petrobras, ENI, Equinor, TotalEnergies, Chevron, INPEX, Petronas), national oil companies (CABGOC, Pertamina), shipbuilders (Hyundai Heavy Industries, Daewoo Shipbuilding & Marine Engineering, Heerema), and offshore drilling contractors (Seadrill, Ocean Rig, Songa Offshore, Vantage Drilling, Odfjell) across more than 30 countries. Its scope spans engineering consulting, offshore modification, hook-up and commissioning (HUC), material procurement, module fabrication, FPSO conversion, decommissioning with Rig-to-Reef, and shipbuilding (2,800 DWT CPP Oil Tankers).
KHAN operates owned and partnership manufacturing yards in Yeongam, Pohang, Geoje (Seongpo), and Tongyeong (Yanase) with combined open-yard area exceeding 400,000㎡ and 5,000 ton/month fabrication throughput, plus regional offices in Kuala Lumpur, Yangon, Yantai, and Jakarta. The company maintains proprietary offshore technology IP including a SIL 3 certified subsea manifold, Subsea Control Module, Mud Control System, Dynamic Positioning Simulator with HILS, Heave Compensator, and Condition Management System, with ongoing R&D in scrubbers, shipboard desalination, and digital twin systems.
The business model is project-based and quote-driven: KHAN engages on long-term, multi-year EPC and EPCI contracts with oil majors and shipyards, supplemented by licensing potential on internally developed subsea and simulation technology. Revenue is generated through professional services (engineering, commissioning, hook-up, decommissioning, relocation logistics), hardware sales (modular products such as E-House, Helideck, Derrick, Living Quarters, aluminium products, CSU, RMQC, and jack-up rig legs; plus shipbuilding), and material procurement through a 400-500 sub-supplier network. Pricing is custom per scope, with no public rate card. KHAN holds DNV ISO 9001/14001/45001, Achilles JQS, AEO, INNO-BIZ, MAIN-BIZ, and T3 technology competency certifications, and has been awarded multiple Korean Export Tower awards reaching $50 million in export value by 2016.
KHANCO LTD firmographics
Firmographics- Name
- KHANCO LTD
- Legal name
- KHAN CO LTD
- Website
- https://khan-offshore.com
- Company type
- Private
- Founded year
- 2006
- Operating status
- Operating
- Short description
- KHAN CO LTD is a South Korean privately held provider of offshore engineering, fabrication, hook-up and commissioning, and shipbuilding services for international oil companies, national oil companies, shipbuilders, and drilling contractors across 30+ countries, with proprietary subsea and simulation technology and owned yards.
- Ownership category
- akta.pro rank
KHANCO LTD industry classification
Industry- NAICS
- 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), Drilling Oil & Gas Wells (1381)
- akta.pro primary industry
- Marine & Offshore Energy O&M (Offshore Wind, Platforms, Subsea Assets) (EUAEAGAO)
- akta.pro secondary industry
- Oilfield Equipment Manufacturing & Supply (Wellheads, BOPs, Surface Equipment) (EUALABAL)
Keywords
Where KHANCO LTD is headquartered
LocationHeadquarters
- HQ city
- Geoje-si
- HQ country
- South Korea
- HQ region
- Asia
Offices10 records
Markets served
KHANCO LTD business model
Business modelRevenue model
- Engineering & Commissioning Services: Provides comprehensive engineering consulting, marine EPC engineering, offshore modification engineering, offshore commissioning engineering, and module engineering services for oil and gas facilities worldwide.
- Material Procurement & Supply: One-stop material supply service including spare parts, bulk material supply for sailing-away, and engineered products. Maintains 400-500 sub-suppliers and vendors network.
- Shipbuilding: Started shipbuilding business in 2018. Delivered 2,800 DWT CPP Oil Tankers. Builds commercial ships including LNG bunkering ships, LNG FSRU, and aluminum catamaran ferries.
- Hookup & Installation Services: HUC (Hook Up & Commissioning) services including preparation for offshore site hook up, onshore pre-commissioning assistance, mechanical completion, and start-up assistance.
- Eco-Friendly Decommissioning: Turnkey decommissioning services including deconstruction, waste management, environmental services, and logistics. Includes Rig to Reef solutions for platform repurposing.
- Relocation & Logistics Services: In-country support services including relocation, site office support, manpower services, and logistics & shipping agent services for offshore projects.
- R&D Development & Technology Licensing: R&D services and technology development for subsea equipment, simulators, and offshore systems with potential for technology licensing.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | Custom project-based pricing for engineering and construction services |
Go-to-market motion2 records
Distribution channels3 records
Marketing channels6 records
KHANCO LTD product offering
Product offeringCore offering
KHANCO LTD provides engineering, commissioning, fabrication, and construction services for offshore oil and gas facilities, including drilling rigs, FPSOs, and offshore platforms. The company delivers one-stop full-lifecycle offshore energy solutions spanning engineering consulting, marine EPC, hookup and installation, material procurement, shipbuilding, FPSO conversion, eco-friendly decommissioning (including Rig to Reef), and modular fabrication of products such as E-Houses, Helidecks, Living Quarters, Derricks, Jack-up Rig Legs, Fired Heaters, and Continuous Ship Unloaders. It also operates R&D programs in subsea equipment, dynamic positioning simulators, heave compensators, and digital twin technology.
Product overview
KHAN operates as a comprehensive energy solution provider specializing in the oil and gas industry. The company offers a portfolio of modular products including E-House (electrical substations), Helidecks, Derricks, Living Quarters, Aluminium Products (railing systems and FlexiBarrier), Mining Facilities (CSU), Port Facilities (RMQC), and Jack-up Rig Legs. Supporting these products are extensive services spanning engineering consulting, marine EPC, offshore modification, commissioning (yard, site, hook-up), material procurement, project management, and specialized services including drywell testing, power solutions, shipbuilding, fired heater fabrication, and decommissioning. The company also maintains significant R&D capabilities in subsea systems, dynamic positioning, and digital twin technology. KHAN provides one-stop solutions from engineering development through assembly, FAT, and global delivery.
Differentiator
Problem solved
Functional benefit
Quantifiable outcome
- Achieved zero-accident records with 900,000+ LTI-free hours on major projects
- +2 more outcomes
Companies that use KHANCO LTD
Customer profileNamed customers18 records
Segments4 records
KHANCO LTD technology and API
TechnologyAPI detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature9 records
KHANCO LTD partnerships and signals
Strategic signalPartnerships
13 partnerships are on record, tiered core, minor and major.
- PT Elnusa Tbk (Indonesia)coreMOU concluded in 2023 for cooperation in Indonesian market. PT Elnusa is a leading energy services company in Indonesia.
- Claxton Engineering Services Pte. Ltd. (Singapore)coreMOU concluded in 2022 for strategic cooperation. Claxton is a specialized offshore drilling services company.
- KONG Offshore Malaysia SDN. BHDcoreSubsidiary established in 2016 as regional hub for Malaysia operations and Southeast Asian market coverage.
- Seongpo Yard (Partnership)corePartnership yard with 145,343㎡ area, 700m sea front access, and 5,000 ton/month capability. Main products include offshore skid module and FPSO conversion.
- Yanase Yard (Partnership)corePartnership shipyard in Tongyeong with building berths including No.1 Slipway 175x33.6M and No.2 Slipway 154x27.4M. Main crane of 120 Ton capacity. History of delivering 120+ ships.
- Marine Aluminum (Norway)minorProject partner for Goliat Helideck Assembly project. Marine Aluminum is a Norwegian aluminum solutions company for offshore applications.
- Southern Adish Gas Condensate Refinery CompanyminorProject partner for Fired Heater project in Iran. Also partnered with INNOVARE KTI for SAGCR project.
- PT PertaminamajorProject partner for RDMP RU V Balikpapan Fired Heater project in Indonesia. Also partnered with Hyundai Engineering and FEI.
- PT Lotte Chemical IndonesiaminorProject partner for Lotte Line PJT Fired Heater project. Also partnered with Hyundai Engineering and JNK HEATERS.
- ARA Engineering Co., Ltd.coreSubsidiary established in 2012 as part of KHAN group structure for engineering services expansion.
- KHAN Commissioning Service Co., Ltd.coreSubsidiary established in 2012 for specialized commissioning services as part of integrated service offering.
- KHAN Industrial Machinery Co., Ltd.coreSubsidiary established in 2011 for industrial machinery manufacturing and fabrication services.
- Yantai Huada M&E Co., Ltd. (China)minorOverseas office established in 2007 in Shandong province, China for regional market presence and sourcing.
Scale indicators13 records
Recent moves7 records
Expansion highlights7 records
KHANCO LTD competitors and assessment
Company assessmentDirect peers
- Aker Solutions: Norwegian offshore engineering and subsea services provider with strong modification, hookup, and commissioning presence for North Sea and global offshore operators. Comparable in subsea equipment and lifecycle services.
- Lamprell: UAE-based offshore construction and ship-repair yard serving drilling rigs, jack-ups, and offshore platforms with EPC and conversion services. Closely comparable mid-tier offshore fabrication and modification model.
- McDermott International: US-headquartered offshore EPCI contractor delivering fixed and floating facilities, subsea pipelines, and hookup/commissioning services. Directly overlaps with KHAN's offshore engineering and offshore construction scope.
- TechnipFMC: Global subsea and surface EPC player manufacturing subsea manifolds, control systems, and wellheads — directly comparable to KHAN's in-house Subsea Manifold (SIL 3) and SCM/DC technologies.
- Aibel: Norwegian offshore services company specializing in engineering, modification, and maintenance of platforms and onshore process facilities. Strong overlap with KHAN's hookup/commissioning and brownfield modification work.
- Saipem: Italian offshore EPCI major with global FPSO, subsea, hookup and commissioning capabilities. Closely comparable business model across offshore engineering, fabrication, and installation services for oil & gas operators.
- Sembcorp Marine: Singapore-based shipbuilder and offshore engineering group with FPSO conversion, rig building, and offshore platform fabrication capabilities. Comparable in shipbuilding + offshore construction crossover.
Emerging players
- SOFEC (MODEC Group): Specialist in mooring systems and FPSO turret engineering. Comparable in subsea/FPSO engineering niche, though narrower product scope than KHAN's full lifecycle services.
- KCA Deutag: Offshore and onshore drilling services contractor with rig modification and operations support. Overlaps with KHAN's drilling rig commissioning, modification, and BOP test scope.
Regional players
- COOEC (China Offshore Oil Engineering Co.): China's largest offshore EPCI contractor serving CNOOC and international clients with FPSO topsides, jackets, and offshore platforms. Geographic competitor with comparable offshore fabrication and hookup capabilities.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
KHANCO LTD social profiles
Digital presenceKHANCO LTD compliance and trust
Trust signalCompliance4 records
KHANCO LTD financial estimates
Financial estimateRevenue estimate
Valuation estimate
KHANCO LTD leadership team
Management profileNumber of profiles
KHANCO LTD subsidiaries and ownership
Company hierarchySubsidiaries8 records
KHANCO LTD funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
KHANCO LTD M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about KHANCO LTD
What does KHANCO LTD do?
KHANCO LTD provides engineering, commissioning, fabrication, and construction services for offshore oil and gas facilities, including drilling rigs, FPSOs, and offshore platforms. The company delivers one-stop full-lifecycle offshore energy solutions spanning engineering consulting, marine EPC, hookup and installation, material procurement, shipbuilding, FPSO conversion, eco-friendly decommissioning (including Rig to Reef), and modular fabrication of products such as E-Houses, Helidecks, Living Quarters, Derricks, Jack-up Rig Legs, Fired Heaters, and Continuous Ship Unloaders. It also operates R&D programs in subsea equipment, dynamic positioning simulators, heave compensators, and digital twin technology.
Is KHANCO LTD a public or private company?
KHANCO LTD is a private company. It is currently operating.
When was KHANCO LTD founded?
KHANCO LTD was founded in 2006.
Where is KHANCO LTD based?
KHANCO LTD is headquartered in Geoje-si, South Korea, in the Asia region.
How does KHANCO LTD make money?
Seven revenue lines are on record. Engineering & Commissioning Services are the primary driver. The others are material Procurement & Supply, shipbuilding, hookup & Installation Services, eco-Friendly Decommissioning, relocation & Logistics Services and R&D Development & Technology Licensing.
Who are KHANCO LTD's main competitors?
Direct peers on record are Aker Solutions, Lamprell, McDermott International, TechnipFMC, Aibel, Saipem and Sembcorp Marine. Emerging players are SOFEC (MODEC Group) and KCA Deutag. COOEC (China Offshore Oil Engineering Co.) is listed as a regional player.
Does KHANCO LTD have an API?
No public API is recorded for KHANCO LTD.
What industry is KHANCO LTD in?
Its primary akta.pro industry code is EUAEAGAO, Marine & Offshore Energy O&M (Offshore Wind, Platforms, Subsea Assets), with a secondary code of EUALABAL, Oilfield Equipment Manufacturing & Supply (Wellheads, BOPs, Surface Equipment). Its NAICS code is 333132 and its SIC code is 3533.