Hyundai Heavy Seals $1.1B Deal to Supply Goliat FPSO

Hyundai Heavy Industries has secured the tender to build the floating production, storage and offloading unit (FPSO) for the Goliat Project. The tender for the Goliat FPSO was initially floated by Eni Norge AS in June 2009.

The contract is worth US $1.1 billion and came into effect upon signing on February 5, 2010. The floating unit will be delivered to Eni for installation in the Goliat field, 85 km northwest of Hammerfest, Norway, in the middle of 2013.

Hyundai Heavy, as EPC Contractor, will undertake all the project work covering engineering, procurement, contruction, onshore commissioning and optional transportation.

The cylindrical floater designed by Norway's Sevan Marine will be able to produce more than 100,000 barrels of crude oil per day and 3.9 million standard cubic meters of gas per day. It will also be able to store 1 million barrels of oil. The unit will be 112 meters in diameter, 75 meters in height and weigh some 52,000 tons. These cylindrical type floaters using Sevan design are already operating in Brazil and the North Sea.

The operator of the Goliat field is Eni Norge (65%), in partnership with Statoil (35%). Goliat is situated in the Norwegian sector of the Barents Sea.