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.

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



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