Hyundai Heavy gets LoI for $1.94B ADMA-OPCO contract
- Business & Finance
Hyundai Heavy Industries Co., Ltd. (HHI) has announced today that it received a Letter of Award for a USD 1.94 billion order for the second package of the Nasr Full Field Development Project to build the fixed platforms and to lay subsea cables from Abu Dhabi Marine Operating Company (ADMA-OPCO) on July 7, 2014.
As per the LOA, HHI will undertake engineering, procurement, construction, installation and commissioning work for the super complex comprising a gas treatment platform, a separation platform, an accommodation platform; laying 144 km subsea power and 55 km infield cables; and modifying an existing manifold tower and two wellhead towers in Nasr oil field, 130 km northwest of Abu Dhabi, UAE.
Upon completion by the second half of 2019, the facilities will increase the daily oil production capacity of the offshore field to 65,000 barrels from the current 22,000 barrels.