HHI completes a mammoth-size turnkey FPSO project in Angola

abarrelfull wrote on 16 Jul 2012 10:43
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2004-08-10

HHI completed the $800 million Kizomba-A FPSO project in Angola, with the facility successfully commencing production of the “first” crude oil from 1,200 meter-deep Bloc-15, about 370km northwest off the African country’s coast at 01:00 a.m. on August 8 (KST), one month ahead of the original schedule. The facility that had been shipped out of The Company’s pier in Ulsan last February arrived in Angola three months later.

It can be said to be another remarkable feat for the Korea’s No.1 shipbuilder that successfully completed the mammoth project in 37 months despite various difficulties, including the damage caused by Typhoon Maemi in September 2003 when the facility was being built in Ulsan, Korea.

The Company had won the order for the 85,000-ton facility from Exxon Mobil of the U.S. at the price of $768 million (= 900 billion won) in July 2001 on a turnkey basis, including design, purchasing of materials and commissioning in addition to production of the hull, the crew accommodation facility and the supra structure. The Company’s winning of the order, which was the largest single project ever carried out by it, led to a series of subsequent orders won in the offshore facility market which used to be dominated by world-famous multinationals, with its capability, quality and price competitiveness recognized. A year later, Exxon Mobil placed another order with the Company for Kizomba-B FPSO, satisfied with what HHI did for the first one.

The 285m-long, 63m-wide, 88.5m-high Kizomba-A FPSO is capable of producing and refining 250,000 bbls of crude oil per day in addition to storing a total of 2.2 million bbls. It can be said to be an offshore crude oil production plant accommodating 100-plus workers.

• HHI completes a mammoth-size turnkey FPSO project in Angola

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