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Hyundai bags $1.9bn Chevron FPSO order

Hyundai bags $1.9bn Chevron FPSO order
Ulsan: Hyundai Heavy Industries (HHI) announced its successful bid to build a floating production storage and offloading unit (FPSO) for Chevron North Sea (Chevron).

The 99,750 tonne turret moored FPSO will be deployed at the Rosebank oil and gas field 175km off the coast of the Shetland Islands in the North Sea. The 292mtr unit will comply with the rigorous NORSOK standards for offshore facilities operating in the North Sea's harsh environment.

The unit will be capable of producing 100,000 barrels of oil and 190 cubic feet of natural gas per day with a storage capacity of 10.5m barrels of oil.

The $1.9bn order brings HHI's new orders in 2013 to $5.1bn, 85% of its $6bn annual target for 2013.

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