HHI finalizes contract to build offshore platforms in UAE
The nation’s largest shipbuilder Hyundai Heavy Industries said yesterday it has finalized a deal to build offshore platforms and install undersea cables in the United Arab Emirates after winning the contract, which was worth 2 trillion won ($1.9 billion) in July.
The company will provide an oil production platform at the NARS oil field, 131 kilometers (81 miles) northwest of Abu Dhabi, and aims to expand oil production there from 22,000 barrels per day to 65,000 barrels per day.
Construction will be finished by the second half of 2019, the company said.
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