South Korea: HHI’s FPSO Gains ‘World Class Product’ Certificate

HHI's FPSO Gains ‘World Class Product’ Certificate

Hyundai Heavy Industries, the world’s biggest shipbuilder, today announced that the Company maintained its record for the most ‘World Class Products’ in Korea by gaining one additional certificate. This maintains the number of ‘World Class Products’ at 37, the same level as last year.

Hyundai Heavy’s newly certified ‘World Class Product’ is a cylindrical FPSO, the Goliat FPSO ordered by Eni Norge in 2010.

‘World Class Products’ is a policy where Korea’s Ministry of Trade, Industry and Energy selects products that have over 5% global market share, rank within the Top 5 in their market, and have an international market worth over USD 50 million with exports of USD 5 million annually.

This cylindrical floater is designed to store 1 million barrels of crude oil, and 4 million standard cubic meters of gas per day. It measures 112 m in diameter, 75 m tall and weighs about 53,000 tonnes. Goliat FPSO will be installed in the Goliat field, 85 km northwest of Hammerfest, in the Barents Sea.

Since the introduction of the ‘World Class Product’ policy in 2001, Hyundai Heavy’s major products have been featured on the list every year.

HHI, December 19, 2013