HHI to sign $700 million contract for huge spar platform

Aasta Hansteen SPARJULY 18, 2012 —Korea's Hyundai Heavy Industries (HHI) recently was awarded a Letter of Intent (LOI) to construct the spar hull for a gas production platform from Statoil in a consortium with Technip. The total contract value for this project is about $700 million. The official contract signing is expected to take place in early September.

As we reported last week, the Aast Hansteen platform will be the world's largest spar platform and the first of its kind on the Norwegian continental shelf. The spar hull will weigh 45,000 tons and measure 195 m in total hull height.

Technip will be in charge of engineering and procurement for the tagged equipment.

 A spar platform is a cylindrical, partially submerged offshore drilling and production platform that is engineered for deepwater operations.

Upon delivered in 2015, the spar hull will be installed in the Aasta Hansteen field, 300 km off the coast of Norway, to produce natural gas in 1,300 m of deep water.

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