Hyundai, backed by French company Doris Engineering edged out a rival consortium led by Technip and supported by South Korean fabricator Samsung Heavy Industries and Chinese offshore services giant Offshore Oil Engineering Company (COOEC), as previously reported in Upstream .

Hyundai said today that it will serve the entire project on a turnkey basis, including engineering, procurement, construction and installation.

The outfit will build a 40,000-tonne offshore platform, a susbsea production system, subsea pipelines, an onshore gas terminal, a jetty and a supply base.

Doris is expected to pick up the design work, while Hyundai would carry out fabrication and installation.

Hyundai has sealed $6.4 billion worth of orders for onshore and offshore plants, surpassing its annual new order target of $5.84 billion.

Work is due to begin this year, with first gas planned in May 2013.

The platform and subsea facilities are part of the phase one development of Shwe, along with an onshore gas plant and a 40-inch 825-kilometre onshore gas pipeline to China's border.

In the future, a compression platform, wellhead platform and an additional manifold could be introduced.

Shwe is in line to be Burma's third offshore producing field behind the Yadana and Yetagun projects. Daewoo has said the project has independently certified recoverable reserves of up to 7.7 trillion cubic feet of gas in blocks A1 and A3.

On 24 December last year, Daewoo signed a firm gas sales and purchase agreement with China National Petroleum Corporation for the supply of gas from blocks A1 and A3 for about 30 years at a supply rate during the plateau period of 500 MMcfd.

Daewoo owns a 51% operating share in Shwe. Its partners are India's ONGC Videsh with a 17% stake, Korea Gas Corporation with 8.5%, India's Gail on 8.5% and Myanma Oil & Gas Enterprise with 15%.

Published: 02 November 2009 02:39 GMT  | Last updated: 02 November 2009 02:43 GMT