South Korea's industrial giant Hyundai Heavy Industries has won a $900 million contract to execute the offshore part of the Barzan gas project in Qatar.
According to a Hyundai Heavy Industries release, the company received a letter of award on January 11 and the official contract on the deal is to be signed later in January.
The project will be located 80 km northeast of Ras Laffan Industrial City, Qatar. Hyundai Heavy Industries will carry out engineering, procurement, fabrication, transportation, installation, hook-up and commissioning of offshore facilities including three offshore wellhead platforms, 300 km of subsea pipelines and 100 km of subsea cables by the end of 2013.
The Barzan project consists of onshore and offshore gas-processing facilities to be operated by Qatar-based RasGas company, a joint venture between the state-run Qatar Petroleum and Exxon Mobil. The project, which will produce 1.9 billion cubic feet a day of gas, will come on stream in 2014.