Hyundai Heavy Begins Building $1.6 Billion FPSO in H-Dock

Thursday, Jul 02, 2009

Hyundai Heavy Industries Co., Ltd. (HHI) held a keel-laying ceremony for the Usan FPSO (Floating, Production, Storage and Offloading Unit) in the specially designed H-dock on June 30.

The FPSO, which is ordered from Elf Petroleum Nigeria, Ltd. (EPNL), a Nigerian subsidiary of French oil company Total S.A, will measure 320m in length, 61m in width, 32m in depth, and weigh 114,000 metric tons. It will be able to produce 160,000 barrels of oil and 5 million cubic metres of natural gas per day and will be able to store 2 million barrels of oil.

HHI plans to complete the FPSO by February 2011. The FPSO will be delivered to EPNL and located in the Usan field, which is in 750m in water, 100km southeast of Bonny Island, Nigeria.

HHI will build two 180,000DWT bulk carriers in H-dock at the same time to increase productivity.

The H-dock, which was completed in April, is wider and deeper than normal shipbuilding dry docks and is equipped with two 1,600 ton Goliath-class cranes. With the H-dock, HHI can build an FPSO hull side four weeks faster than normal and also cut production costs by 15%.

¡°The H-dock specialising in FPSO construction will enhance HHI¡¯s productivity and competitive power to get new orders of super large offshore facilities such as FPSO and LNG-FPSO,¡± an HHI official said.

HHI has the greatest global FPSO market share by receiving seven of the twelve FPSO orders worldwide.

Source: HHI