South Korea’s Hyundai Heavy Industries has signed an initial agreement with Chinese yard CIMC Raffles to fabricate the hull and living quarters for the P-78 floating production, storage and offloading vessel destined for the Petrobras-operated Buzios field offshore Brazil.
Offshore market sources said main contractor Hyundai signed a memorandum of understand with CIMC Raffles after the Yantai-based yard offered what they described as the most competitive price to fabricate the floater’s hull.
