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Hyundai to build Total's oil platform

SEOUL, SOUTH KOREA: Hyundai Heavy Industries, the world's largest shipbuilder, said on Tuesday (26 March) it had won a US$2bn tender to build two offshore platforms for French energy giant Total.

27 Mar 2013

Under the deal with Total's Congo unit, the South Korean company will build and deliver by early 2016 a drilling platform and a floating oil and gas production platform, Hyundai said in a statement.

The two platforms will operate at the Moho Nord field 80km off the south-western coast of Congo, Hyundai said, adding that the field is believed to have a crude oil reserve of about three billion barrels.

The oil and gas production platform can produce 100,000 barrels of oil and 2.5 million cubic metres of natural gas a day, it said.

The world's top shipbuilder said it aimed to win orders worth US$6.0bn for offshore platforms in 2013. So far it has orders worth US$3.2 billion this year.

Source: AFP via I-Net Bridge

Source: I-Net Bridge

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