Daewoo Secures $2.15bn Contract

4 August 2010 (Last Updated August 4th, 2010 18:30)

Daewoo Shipbuilding & Marine Engineering has secured three orders worth $2.15bn for the construction of an FPSO vessel, an offshore plant facility and an onshore plant module. The South Korean shipbuilder will deliver the 110,000t FPSO to a South African oil firm by 2013. <

Daewoo Shipbuilding & Marine Engineering has secured three orders worth $2.15bn for the construction of an FPSO vessel, an offshore plant facility and an onshore plant module.

The South Korean shipbuilder will deliver the 110,000t FPSO to a South African oil firm by 2013.

The vessel will be able to produce up to 160,000 barrels of crude oil and 6.5 million cubic metres of natural gas, with a storage capacity up to 1.8 million barrels of crude oil.

Daewoo Shipbuilding said it will deliver the offshore facilities by 2013.

With the recent deals, the firm has won contracts worth $7.3bn representing 73% of the target it set for 2010.