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

/ 08:24 PM January 20, 2013

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.

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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.

TAGS: Hyundai, Norway, Shipbuilding, South Korea
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