Hyundai Heavy Industries has won the contract to build a VLCC capacity floating, production, storage and offloading (FPSO) vessel for US oil major ExxonMobil worth USD 800 million. Company officials described the contract as the largest single overseas order ever received by Hyundai. In a first for the shipbuilder, Hyundai will be the main contractor for the project. Three sub-contractors will take responsibility for project management, topsides engineering and the FPSO’s mooring system. Work on the 2.2m barrel FPSO is due to start next year at Hyundai’s offshore fabrication facility in Ulsan. Delivery is set for June 2004. The FPSO is destined for ExxonMobil’s Kizomba A deep-water development off Angola in West Africa, were it will be moored in water depths of up to 1200m.
