Daewoo inks $1.8B deal for platform in Norway

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Daewoo inks $1.8B deal for platform in Norway

Daewoo Shipbuilding & Marine Engineering said yesterday that it has obtained a 1.9 trillion won ($1.8 billion) order to manufacture a fixed platform from Statoil ASA of Norway.

Under the deal, Daewoo Shipbuilding will complete the fixed platform, a type of offshore platform used for the production of oil or gas, by the end of 2016, the Korean shipbuilder said.

The 31,000-ton fixed platform, which will produce 80,000 barrels of crude a day, will be installed on the continental shelf in the British sector of the North Sea, the shipbuilder said.

With the platform order, Daewoo Shipbuilding has won $12.7 billion in orders so far this year, surpassing its 2012 order target of $11 billion by 16 percent, the company said.

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