HHI bags its first offshore project in four years from LLOG Exploration

2018.10.10 15:50:12

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South Korea’s biggest shipbuilder Hyundai Heavy Industries Co. brought home its first offshore work in four years by bagging $450 million order from U.S. oil company LLOG Exploration to deliver a floating production storage and offloading unit in the Gulf of Mexico, sources said on Wednesday.

The facility would be constructed from August next year after a year-long design for completion and delivery in the first half of 2021.

Hyundai Heavy Industries has shut down part of the offshore dock due to lack of work after its last order delivery in August. Over 2,000 redundant workers have been asked to go on rotating unpaid leave or voluntarily retire.

The company plans to pitch harder to win new orders to normalize offshore dock as early as possible.

By Woo Je-yoon and Lee Ha-yeon

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