South Korea: Hyundai Heavy Wins USD 600 Mln Worth Orders

Global leader in the shipbuilding industry and holder of 15 % share of the market, Hyundai Heavy Industries, will have its hands full in the following period having secured three orders for construction of oil and gas rigs, worth USD 600 million.

The orders entail construction of 35,000-tonne offshore oil platform worth USD 400 million, followed by two USD 100 million orders, one for a semi-submersible drilling rig for LLOG of the United States and the final one for six “land plant modules”, Reuters cited the company as saying.

The company would not specify on the clients who placed the order for offshore oil platform, or the six land plant modules, with the production capability of 200 million cubic feet of natural gas and 10,000 barrels of oil a day, however the works are expected to be completed by summer 2015.


World Maritime News Staff, June 18, 2012