South Korean Shipbuilder Hyundai Heavy Inks LOI for World’s Largest Spar Hull

Hyundai Heavy Industries (HHI), the world’s biggest shipbuilder and a leading offshore facilities contractor, has been awarded a Letter of Intent to construct the spar hull for a gas production platform from Statoil in a consortium with Technip on July 11th 2012. 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 Aasta Hansteen platform will be the world’s largest Spar platform and the first of its kind on the Norwegian continental shelf (NCS). Total recoverable reserves for Aasta Hansteen, previously called Luva, are preliminarily estimated at about 47 billion standard cubic metres (scm) of gas and 0.8 million scm of condensate.

The platform will be the first Spar with storage capacity and will be able to store about 25,000 scm of condensate, and export gas via the Norwegian Sea Gas Infrastructure (NSGI).

It will be built in South Korea and transported on the world’s largest heavy-lift carrier. Technip will design, procure and deliver the Spar platform hull readied for mating with the platform topsides in Norway. The supplier will also design and prepare specifications for steel rigid risers and a complete mooring system.

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Shipbuilding Tribune Staff, July 18, 2012; Image: statoil