Hyundai Heavy Industries Co., Ltd. (HHI), the world’s biggest shipbuilder and a leading offshore facilities contractor, announced that it received a Letter of Award (LOA) for a USD 1.94 billion order for the second package of the Nasr Full Field Development Project to build the fixed platforms and to lay subsea cables from Abu Dhabi Marine Operating Company (ADMA-OPCO) on July 7, 2014.

As per the LOA, HHI will undertake engineering, procurement, construction, installation and commissioning work for the super complex comprising a gas treatment platform, a separation platform, an accommodation platform; laying 144 km subsea power and 55 km infield cables; and modifying an existing manifold tower and two wellhead towers in Nasr oil field, 130 km northwest of Abu Dhabi, UAE.

Upon completion by the second half of 2019, the facilities will increase the daily oil production capacity of the offshore field to 65,000 barrels from the current 22,000 barrels.

About Hyundai Heavy Industries

Hyundai Heavy Industries (HHI), founded by the late Chung Ju-yung on March 23, 1972 wrote the first chapter of its shipbuilding history in June, 1974 by completing construction of the world's largest shipyard and two 260,000-DWT VLCCs all at the same time. A decade after its first delivery, the Hyundai Shipyard topped 10 million deadweight tons in aggregate ship production, and has maintained the leading position in the world shipbuilding market ever since. Hyundai Shipyard's drive has mirrored the growth of modern Korean heavy industry, and our success has allowed us to expand into other heavy industry areas, ultimately leading to the formation of Hyundai Heavy Industries, an integrated heavy industry company.