S. Korea’s Hyundai wins $1.1B order from Norway


This file photo shows a ship being being built at Hyundai Heavy Industries shipyard in Ulsan. The South Korean shipbuilder said Sunday, Jan. 20, 2013, it has won a $1.1-billion order from Norway’s Statoil ASA to install a topside facility on a spar hull. AFP PHOTO/ FILES/KIM JAE-HWAN

SEOUL—Hyundai Heavy Industries said Sunday it has won a $1.1-billion order from Norway’s Statoil ASA to install a topside facility on a spar hull being built by the South Korean company.

The world’s top shipbuilder by orders said it would build the 21,000-ton topside facility, capable of producing 23 million cubic meters of oil and gas a day, by March 2016.

Hyundai has already won an $800-million order from Statoil to build the spar hull some 300 kilometers (186 miles) off the northwest coast of Norway.

The company said the cylindrical, partially submerged offshore facility will be able to store 160,000 barrels of gas condensate when it is completed in the second half of 2015.

Get Inquirer updates while on the go, add us on these apps:

Inquirer Viber

Disclaimer: The comments uploaded on this site do not necessarily represent or reflect the views of management and owner of We reserve the right to exclude comments that we deem to be inconsistent with our editorial standards.

  • wawa2172

    This show how Korea invested in Engineering and Technology. While the Philippines have the best seafarer the Koreans are the ship builders. Unlike in the Philippines most of our engineers are theoretician who cannot convert a design into real world. In addition, most engineers are pa porma lang when they pass the board exam, a paper exam based on text books and board exam reviewers. Mas ok pa yung technicians who do have skills to supervised and manage workers. It is time to re-engineer our engineers. One who knows both theory and skills. Most of our board exam passers are poor in psycho-motor puro cognitive lang. 

    • popeyee

      mga engineers kasi sa atin nag-aaral pa lang ng engineering ayaw ng humawak kahit martilyo dahil di daw nila work yon. So mas lalo na pag nakapasa sa board exam…

  • MrJoseRizal

    Salute the Koreans from being a 3rd world country in the 50s to being among the top in the world now

To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.

Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:

c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City,Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94


editors' picks



latest videos