Hyundai Wins US$1.6bn Nigerian Platform Deal

Hyundai Heavy Industries has won a US$1.6bn deal to build an oil platform in Nigeria.

The company will provide the 320m-long floating production storage and offloading vessel (FPSO) for Total SA subsidiary Elf Petroleum Nigeria.

Situated in an oil field 100km southeast of Bonny Island, the FPSO will be able to store up two million barrels of crude oil.

The facility will also refine 160,000 barrels of crude oil and produce five million metric tons of gas on a daily basis, according to Hyundai Heavy Industries.

By staff writer