South Korea: HHI Receives LoI for World’s Largest Spar Hull
- Business & Finance
Hyundai Heavy Industries (HHI), the world’s biggest shipbuilder and a leading offshore facilities contractor, announced that it was awarded a Letter of Intent to construct the spar hull for a gas production platform from Statoil in a consortium with Technip on July 11. The total contract value for this project is about USD 700 million dollars.
Technip will be in charge of engineering and procurement for the tagged equipment.
A spar platform is a cylindrical, partially submerged offshore drilling and production platform that is engineered for deepwater operations.
The official contract for the project is scheduled to be inked in early September. The spar hull will be the world’s largest spar weighing 45,000 tons and measuring 195 m in total hull height. It will also be the first of its kind operating in Norwegian waters.
Upon delivered in 2015, the spar hull will be installed in the Aasta Hansteen field, 300 km off the coast of Norway, to produce natural gas in 1,300 m of deep water.
Press Release, July 18, 2012