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S. Korea's Daewoo wins $1.1 bn Norway order

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(Globalpost/GlobalPost)

South Korea's Daewoo Shipbuilding and Marine Engineering said Thursday it had secured a $1.1 billion order to build a fixed platform for Norway's Statoil ASA.

Under the contract signed on Wednesday, the 17,000-ton offshore platform for production of oil or gas will be built at the firm's shipyard in the southern port of Geoje and delivered by the end of 2016, Daewoo said.

The platform capable of producing 63,000 barrels of crude oil a day will be installed on the Dagny oil field in the North Sea, the company said.

The world's third largest shipbuilder by revenue said it had won a total of $2.7 billion in orders so far this year, including the platform. The company earned $14.3 billion in orders last year.

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http://www.globalpost.com/dispatch/news/afp/130220/s-koreas-daewoo-wins-11-bn-norway-order