South Korean giant Daewoo Shipbuilding & Marine Engineering on Thursday said that it had won a 282 billion won ($257 million) contract from Abu Dhabi National Oil Company (Adnoc) to build three oil tankers.

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The vessels will be delivered during the first quarter of 2023, local media reports said.

The contract has an option to place an order for three further crude tankers, according to the South Korean player.

Daewoo so far this year has won orders worth $4.6 billion, achieving about 56% of 2020’s annual target, reports added.

Qatar Petroleum (QP) earlier this year inked deals worth more than 70 billion Qatari Riyals ($19.2 billion) with three leading South Korean yards for the construction of more than 100 liquefied natural gas carriers for its huge North Field Expansion project and other international developments.

Qatar Petroleum signs historic $19.2 billion LNG vessels deal with Asian yard giants

As per the agreement, the three key South Korean shipyards — Daewoo, Hyundai Heavy Industries and Samsung Heavy Industries — will reserve a major portion of their LNG vessel construction capacity for QP through to 2027, the state-owned giant said.

QP had described the new deal with yard trio as the “largest shipbuilding agreements in history".

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