Hyundai Wins $520 Mil. Platform Order

Hyundai Heavy Industries has won a $520 million order to build an offshore platform for the consortium of French multinational energy group Total and Nigerian National Petroleum Corp., the company announced Tuesday.

The offshore platform will be built some 45 kilometers off Nigerian southeast coast to develop crude oil and gas at the Ofon field, an official said.

Hyundai will design, purchase building material, manufacture and test of the platform on turn key basis, he said. The structure is 54 meters long, 47 meters wide and 30 meters wide, weighing 13,000 tons.

The platform, scheduled to be set up by June 2010, will be capable of 105,000 barrels of crude and 3 million cubic meters of gas a day.

Hyundai has won orders of ground and marine platforms worth some $2 billion of the projected goal of $3.6 billion for this year.