BEIJING, China -- Hyundai Heavy Industries (HHI) has received a $1.6-billion Letter of Award (LOA) from Elf Petroleum Nigeria to build an FPSO for the Usan field. HHI will carry out all phases of the project on a turnkey basis, from the engineering, procurement, and construction, to the test runs.
The FPSO will measure 320 m (1,050 ft) in length, 61 m (200 ft) in width, with a depth of 32 m (105 ft). It will have capacity to produce 160,000 b/d of oil and 5 MMcf/d of natural gas, and will be able to store 2 MMbbl of oil.
The FPSO is scheduled to be completed by the end of 2011.