Last updated: 11 July, 2014

Hyundai Heavy wins $2.0 billion UAE offshore project

South Korea’s Hyundai Heavy Industries said Friday it had won a $2.0 billion project to build offshore oil production facilities in the United Arab Emirates.

The deal with the Abu Dhabi Marine Operating Co. (ADMA-OPCO) is for a project in the Nasr oil field, 130 kilometres (80 miles) off Abu Dhabi.

The facilities to be provided by Hyundai Heavy include a gas treatment plant and crude oil cracking plant, the company said.

The project, with a targeted completion date of 2019, will triple the Nasr field’s production to 65,000 barrels per day.