Hyundai Heavy wins $2b offshore order from France

Hyundai Heavy Industries, the nation’s top shipbuilder, won a $2 billion deal to build two offshore facilities for France-based oil company Total, the company said in a press release.

In the deal with Total’s overseas branch in the Republic of Congo, Hyundai Heavy will build a floating production unit for $1.3 billion and an offshore platform for $700 million.

The two offshore facilities will be installed in the Moho Nord oil field, about 80 kilometers from Pointe-Noire on the country’s southern coast, by 2016.

Hyundai Heavy has clinched $3.2 billion so far this year in offshore orders, reaching the halfway mark of its $6 billion annual target, the company said.

(jyseo@heraldcorp.com)