HHI books $1.94 billion Abu Dhabi offshore contract

NOVEMBER 13, 2014 — South Korea's Hyundai Heavy Industries Co., Ltd. (HHI), the world's largest shipbuilder and a major offshore facilities contractor, has signed a contract for a $1.94 billion order for the second package of the Nasr Full Field Development Project from Abu Dhabi Marine Operating Company (ADMA-OPCO).

The contract will see HHI undertake engineering, procurement, construction, installation and commissioning work for the super complex comprising a gas treatment platform, a separation platform, an accommodation platform; laying 144 km subsea power and 55 km infield cables; modifying an existing manifold tower and two wellhead towers in Nasr oil field, 131 km northwest of Abu Dhabi, UAE, and work for Power Distribution Facilities from existing DAS Island to the super complex.

Scheduled to be completed within the first half of 2019, the facilities which are to be installed 131 km northwest off Abu Dhabi City will increase the daily oil production capacity of the offshore field to 65,000 barrels from the current 22,000 barrels.

Want more? Subscribe now!

News from NASDAQ