Hyundai E&C gushes over $1.89b UAE oil facility deal

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Hyundai E&C gushes over $1.89b UAE oil facility deal

Hyundai Engineering & Construction said on Wednesday it has secured a $1.89 billion order from the United Arab Emirates to build oil facilities.

Korea’s largest builder in terms of construction capacity said it signed the engineering, procurement and construction contract with state-owned Abu Dhabi Marine Operating Company for the Satah Al-Razboot full field development project.

Hyundai E&C said it was awarded an onshore package to build oil gathering and transfer facilities on two artificial islands in Sarb oil field.

The builder said it will also build facilities on nearby Zirku Island. Hyundai E&C said the project will take about 54 months to complete.

The latest deal brings the total value of overseas orders won by Hyundai E&C to $3.15 billion.

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