Hyundai Heavy Industries (HHI) has received an order to build offshore oil production facilities, worth at US$1.6 billion. This contract is the world’s largest of offshore oil projects in value and scale recorded ever by a single company.
HHI announced that a Letter of Award (LOA) has been executed with Abu Dhabi Marine Operating Co. (ADMA-OPCO), the subsidiary of the state-run Abu Dhabi National Oil Company (ADNOC) of Unite Arab Emirates(UAE), for the Um Shaif project to build offshore oil and gas production facilities.
The project involves the construction of three fixed platforms of 40,000 tons, subsea pipelines and bridges offshore Abu Dhabi. The project will be completed by 2010 and produce 300,000 barrels of oil and 1.0 billion ft3 of natural gas a day. United Arab Emirates is the world’s fourth largest oil-producing country,