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Hyundai Heavy bags $220 mn order from ONGC
July 14, 2003 13:03 IST
South Korea's Hyundai Heavy Industries Co, the world's largest shipbuilder, on Monday said it had won a $220 million order to build and install an offshore gas processing platform for Oil and Natural Gas Corporation's Mumbai High fields.
The 14,000 tonne platform, dubbed MSP, will be bridge-linked to the existing Bombay High South platform off India's western coast, and will have facilities for gas compression, dehydration, treatment, utility and oil handling, the company said in a statement.
The work-scope includes modifications to the existing platforms and decommissioning of a flare system, but Hyundai plans to sub-contract this work to an Indian company.
This award is part of the $2 billion redevelopment of ONGC's flagship oilfield, 160-km west of Mumbai.
The phased redevelopment programme is intended to boost production at the Arabian Sea field from 200,000 barrels per day to 300,000 barrels per day of crude.
Output from Mumbai High stood at 400,000 barrels per day at its peak in the mid to late 1980s.