Hyundai Heavy clinches $1.1B deal in Norway

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Hyundai Heavy clinches $1.1B deal in Norway

Hyundai Heavy Industries, Korea’s biggest shipbuilder, said yesterday that it has clinched a $1.1 billion deal to build a massive offshore platform in Norway.

Under the contract with Norway’s state-run Statoil ASA, Hyundai Heavy will construct a platform weighing 64,500 tons to produce and store gas in Norway’s northwestern waters of Aasta Hansteen gas field in the North Sea, according to the announcement.

The facility will have a daily 23 million ton production capacity of natural gas and crude oil, and store 160,000 barrels of natural-gas condensate, according to Hyundai Heavy.

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