HHI, jointly with KNOC, wins $150 million offshore gas field development project in Vietnam

abarrelfullabarrelfull wrote on 16 Jul 2012 11:10

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On December 28, HHI reported that it won a major unit of an offshore gas field development project in Vietnam for $150 million being promoted by the KNOC (Korea National Oil Corporation).

The 13,000-ton fixed-type natural gas extraction facility is to be installed at Sector 11-2 of Rong Doi Gas Field in the Nam Con Son Basin about 320km from the southern shore of Vietnam.

The order for which HHI will be in charge of design, manufacturing, installation and commissioning with the KNOC supplying major components and materials will be recorded as the first overseas oil field development project wholly carried out by Korean businesses alone.

Upon the KNOC’s notice of its selection as the contractor for the project in mid-September 2004, HHI went ahead with the design work and recently signed an interim contract with the Vietnamese government for the work.

HHI will go ahead with the manufacturing work at its offshore facility in Ulsan and the Vinashin plant in Vietnam of Hyundai Mipo Dockyard, move the structures to the jobsite and finish installing and commissioning it by September 2006.

The HHI also worked in joint partnership with KNOC in building the gas field development platform at the East Sea-1 Sector off Ulsan. The work, which was Korea’s first-ever production of gas in its territory, was completed in November 2004. Looking at its record of construction work in Vietnam, HHI was engaged in the work for installation of a 127km-long pipeline for two years from 1993 in that country.

HHI also reported that it is engaged in negotiations with oil majors for their offshore oil field facilities in West Africa, of which result will be known soon.

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