United Industrial Corporation (OPK) and Hyundai Heavy Industries (HHI) have undertaken an agreement to work together on the development of ship machinery and building and design projects aimed mostly at the oil and gas market.

HHI, as a partner of OPK, will help manage its shipyards, erect new shipbuilding facilities and construct vessels for the oil and gas industry.

OPK runs the Severnaya Verf shipyard, Baltiysky Zavod plant and design bureau Iceberg and is aiming its operations at shipbuilding programs for the Arctic shelf development.