Hyundai Heavy Industries Co. has signed a USD 1.6 billion deal for an offshore platform construction project in the UAE. The deal with UAE’s Abu Dhabi Marine Operating Co., a state-run oil and gas producer, calls for Hyundai Heavy to build three offshore oil platforms and pipelines in the Um Shaif oil and gas reserve in the Persian Gulf by 2010 to produce 300,000 barrels of oil and 1 billion cubic feet of natural gas daily.
