Hyundai ahead in race for $1.2 billion contract

Contracts: WorleyParsons won the contract for the Hebron topsides in April.

SOUTH Korea’s Hyundai Heavy Industries is frontrunner to land a huge contract worth up to $1.2 billion to construct a 30,000-tonne deck for ExxonMobil’s Hebron project off Newfoundland, Canada, write Iain Esau and Tan Hwee Hwee.

Hyundai is also said to be a strong contender for a second contract with the supermajor covering modules for a central processing facility for the Point Thomson field in Alaska. Sources said both contracts could be awarded as early as the end of this month.

Ulsan-based Hyundai has been competing against two other South Korean giants, Daewoo Shipbuilding & Marine Engineering and Samsung Heavy Industries in the international tender for the Hebron contract which takes in utility and process modules. One project watcher said Hyundai is “much more hungry” for work that…

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