South Korean shipbuilding giant Hyundai Heavy Industries announced Tuesday that it has won a US$900 million EPC contract for the offshore component of the newly-announced Barzan Gas Project in Qatar.
The project will be located some 80 Kilometres northeast of Ras Laffan Industrial City, Qatar where Hyundai will carry out engineering, procurement, fabrication, transportation, installation, hook-up, and commissioning of offshore gas plants. These facilities are to include three offshore wellhead platforms, 300 Kilometres of subsea pipelines and 100 Kilometres of subsea cables by the end of 2013. According to an AFP report, the project would require 260,000 workers.
The $8.6 billion Barzan Gas Project consists of onshore and offshore gas-processing facilities to be operated by RasGas, a joint venture between Qatar Petroleum and ExxonMobil. The project, which will produce 1.9 billion cubic feet a day of gas, will come on stream in 2014.
Following its letter of award (LOA), Hyundai will sign the official contract later in January. Qatar had been putting off the Barzan Gas Project project since 2009 when raw material and labour prices were at their peak due tight supplies amid strong economic growth.
