Hyundai Heavy Industries has launched a 116,000t floating production storage and offloading facility (FPSO), which the shipbuilder claims is world’s largest vessel.

The 320m-long FPSO can refine 160,000 barrels of oil and five million cubic metres of gas daily and has a storage capacity for two million barrels.

The $1.7bn vessel has been built for French company Total.

The FPSO is expected to sail out of the South Korean yard for Total’s oilfield in Nigeria in March 2011.