Reports: Chevron North Sea Cancels FPSO Order

South Korea headquartered Hyundai Heavy Industries Co. said Wednesday a $1.8 billion order to build an offshore facility has been cancelled, according to media reports. 

The shipbuilder said Chevron North Sea Ltd. had notified the company of its decision to cancel the order to build a floating production storage offloading (FPSO) unit, citing a deteriorating business environment, South Korean newspaper The Korea Herald reported.

Chevron North Sea Limited recently announced that it had started production at the Alder field in the central North Sea, more than 40 years after it was first discovered.

"First gas at Alder represents a significant milestone for Chevron and highlights our commitment to investing and developing resources in the U.K.,” said Greta Lydecker, managing director for Chevron Upstream Europe.



Have a news tip? Share it with Rigzone!
Email news@rigzone.com

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE

More from this Author
Rigzone Staff
e-mail us at news@rigzone.com
 -  Petrofac Suspends Group Chief Operatin... (May 25)
 -  EnQuest On Track For Kraken First Oil ... (May 25)
 -  Energean Signs Lease Agreement for Exp... (May 25)
 -  Seadrill CEO Praises Workforce (May 24)
 -  Serinus Shuts-In Sabria Field Due to S... (May 23)


Most Popular Articles

From the Career Center
Jobs that may interest you
Maintenance Technician - C
Expertise: Maintenance Technician|Mechanical Technician
Location: San Antonio, TX
 
Equipment Operator - San Antonio
Expertise: Heavy Machinery Operator
Location: San Antonio, TX
 
Instrument Engineer
Expertise: Instrument & Controls Engineer
Location: El Segundo, CA
 
search for more jobs

Brent Crude Oil : $53.96/BBL 0.35%
Light Crude Oil : $51.36/BBL 0.21%
Natural Gas : $3.209/MMBtu 0.34%
Updated in last 24 hours