HHI books $1.9 billion Chevron FPSO contract

APRIL 11, 2013 — Hyundai Heavy Industries (HHI) reports that it has won a $1.9 billion order to build a Floating Production Storage and Offloading unit (FPSO) for Chevron North Sea Ltd.

Hyundai Heavy will carry out engineering, procurement, and construction for the floating offshore facility to be deployed in the Rosebank oil and gas field, 175 km northwest of the Shetland Islands.

The 99,750-tonne turret moored FPSO is scheduled to be handed over by the end of November 2016. It will be able to produce 100,000 barrels of oil and 190 million standard cubic feet of natural gas per day. It will also have storage capacity for 1.05 million barrels of oil.

The FPSO, measuring 292 m in length, 57 m in width, and 30 m in depth, will be built under the NORSOK standard, applicable to offshore facilities operating in the harsh conditions of the North Sea. Currently, the Ulsan, South Korea-based shipbuilder and offshore facilities contractor is building two other FPSOs and one offshore platform specially designed to perform in the North Sea.

Today’s order brings HHI’s new orders for this year to $5.1 billion, 85 percent of its $6 billion sales target for the year.