Hyundai Heavy wins $2.0 billion UAE offshore project
SEOUL - South Korea's Hyundai Heavy Industries said Friday it had won a $2 billion project to build offshore oil production facilities in the United Arab Emirates.
The deal with the Abu Dhabi Marine Operating Co. (ADMA-OPCO) is for a project in the Nasr oil field, 130 kilometres (80 miles) off Abu Dhabi.
The facilities to be provided by Hyundai Heavy include a gas treatment plant and crude oil cracking plant, the company said.
The project, with a targeted completion date of 2019, will triple the Nasr field's production to 65,000 barrels per day.