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Hyundai Heavy Industries Gets Massive Order

In recent news, Hyundai Heavy Industries (HHI) has disclosed it has been awarded a $1.1 billion contract for installing a Topside Facility on the Aasta Hansteen spar hull by Statoil. The Aasta Hansteen spar hull is also being constructed by a South Korean company, and this will come as a plus for South Korean heavy support industries. Statoil has given HHI a deadline date of sometime in 2016 for the installation of the Topside Facility, which is able to produce 23 million cubic meters. Construction may begin this month, however the spokesperson from Statoil is uncertain as to exactly when. This contract comes on the heels of the $800 million bid from Statoil for a spar hull off the northwestern Norwegian coast. Hyundai Heavy Industries will benefit greatly from this partnership with Statoil, and it is likely that, once the level of construction is up to HHI’s regular standard, the partnership will continue. HHI is usually a name associated with shipbuilding, but their industrial construction has seen action in the oil and gas fields for quite some time. The durability and dependability of their construction makes them desirable for the construction of offshore storage and drilling platforms as well as… read more »