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Hyundai Heavy Industries wins $2 Billion US Dollars order from Total Congo

South Korea: Hyundai Heavy Industries Co., South Korea's leading shipbuilder has secured a US$2 billion deal to build two offshore facilities for France-based Total SA.

Under the deal with Total's South African affiliate Total Congo, Hyundai Heavy will build a floating production unit for $1.3 billion and an offshore platform for $700 million.

The two facilities will be installed in the Moho Nord oil field, about 80 kilometers from Pointe-Noire, a southern coastal city in Congo.

The floating production unit, 250 meters long and 44 meters wide, can process 100,000 barrels of crude oil and 2.5 million cubic meters of natural gas a day. The facility will be completed by the first half of 2015.

Hyundai Heavy has clinched orders worth $3.2 billion so far this year to build offshore facilities. The shipbuilder, also the world's largest shipyard, is targeting to win $6 billion worth of orders for offshore facilities this year.

Yonhap News Agency


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