UPDATE: Hyundai Heavy Industries Wins $1.1B Order from Statoil

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UPDATE: Hyundai Heavy Industries Wins $1.1B Order from Statoil

South Korea's Hyundai Heavy Industries (HHI), the world's top shipbuilder by orders, disclosed Monday that it has won a $1.1 billion order from Statoil to install a topside facility on the Aasta Hansteen spar hull, a facility also being built the South Korean company.

The 21,000-tonne topside facility, capable of producing 23 million cubic meters, will be installed in the Aasta Hansteen gas field by 2016. A spokesperson confirmed with Rigzone late Monday that the construction of the topside could start this month, but it is unclear at this point when the first cutting of steel will take place.

Hyundai Heavy Industries has already won an $800 million order from Statoil to build the spar hull some 186 miles (300 kilometers) off the northwest coast of Norway.

The company said in a statement that the cylindrical, partially submerged offshore facility will be able to store 160,000 barrels of gas condensate when it is completed in 2H 2015. 

Commenting on the company's contract win, HHI Offshore & Engineering Division's CEO, Kim Jong-do said: "I believe that our long experience in the offshore facility field will continue to give us an edge in winning orders from the Middle East, Australia and the North Sea."

The Aasta Hansteen gas field, formerly Luva, is located on Blocks 6706/12, 6707/10, roughly 186 miles (300 kilometers) from land in 4,265 feet (1,300 meters) of water in the Norwegian sector of the North Sea. Statoil serves as the operator, holding a 75 percent interest; OMV holds 15 percent; and ConocoPhillips holds the remaining 10 percent interest.

Discovered in 1997, the well was plugged and abandoned as a gas find with oil shows. A year later, the Transocean Leader (mid-water semisub) drilled an appraisal well 6706/12-1 to a total depth of 12,956 feet (3,949 meters), confirming the find was a discovery.

HHI is at present working on two other floating production storage and offshore facilities: BP's "Q204" and Eni Norge's "Goliat FPSO". 

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