HHI To Build Usan FPSO

HYUNDAI  HEAVY INDUSTRIES (HHI) has received a Letter of Award (LOA) from Elf Petroleum Nigeria, Ltd. (EPNL), a Nigerian subsidiary of French oil company TOTAL S.A., to build a super-large Floating, Production, Storage, and Offloading unit (FPSO). The FPSO contract is worth $1.6 billion. The facility will measure 32Dm in length, 61m in width, 32m in depth, and weigh 114,000 tons. It will be able to produce 160,000 barrels of oil and five (5) million cubic meters of natural gas per day. and will be able to store two (2) million barrels of oil. The FPSO will be completed by the end of 2011. It will be located in the Usan field, which is in water 750 meters deep, 100 km southeast of Bonny Island in Nigeria. HHI will carry out all phases of the project on a turnkey basis, from the engineering, procurement, and construction, to the test runs. HHI has successfully completed at least one super-large FPSO every year since 1997, including the Kizomba A and B FPSOs for ExxonMobil, the Plutonio FPSO for BP, and the Akpo FPSO for TOTAL. The Korean builder has received five consecutive orders from TOTAL since 2005, when it won the first Akpo FPSO order. HHI’s Offshore & Engineering Division is now in negotiations for further projects in West Africa and the North Sea.