Hyundai Heavy Industries (HHI) has secured a marine installations project worth $7 billion from Hess E&P Malaysia in Malaysia, including a gas central processing platform and a production platform, in the form of the letter of award (LOA), the company said recently.

The central gas processing platform, weighing 33,000 tons, with a capacity to produce 43,000 cubic feet of gas and 15,000 barrels of condensate daily, should be completed in the second half of 2016 when they will turn over the platforms to the owner who then will place them at a gas field in the Bergading Sea, 150 km northeast of Kota Bharu, the company said.

HHI is ready to begin the project this month on an EPIC basis including purchase, construction, installation, and testing as the company has won recognition for its experiences for the production of such platforms for the Donghae Gas Field in 2004, the Bongkot Gas Project in Thailand in 2012, and the SHWE Project in Myanmar in June 2013, among other projects involving the production of gas plant forms and installations from a number of major oil exploration firms.

HHI officials said Malaysia, a producer of LNG from last year and they expect more similar project orders to continue coming as Southeast Asian nations have to take on the exploration of gas fields due to the rising demand for gas for their own uses and for exports.

In the meantime, Hyundai Mipo Shipbuilding has secured a project to build six mid-scale petrochemical carriers (PC) worth $30.8 million per carrier, a high price in view of the current market conditions for such ships, recognition of the company’s outstanding craftsmanship. With the order, the shipbuilder now has 38 mid-scale product carriers in total in the first half of the year worth a total of $1.44 billion, which comes to 41 percent of its total order target for this year.

Hyundai Mipo announced on June 30 that it has clinched an order for six PCs from Alterna Capital, each weighing 25,000 DWT, for $185 million.

Each PC is 169 meters long, 25.6 meters wide, and 15.6 meters tall, and delivery is scheduled to begin in September 2016. Each PC will be equipped with a fuel valve cylinder to control opening and shutdown with an electronic engine and a ballast water treatment system to prevent the pollution of sea, considered a top-level eco-ship technology that only Hyundai Mipo has.

This type of PC ship is the first for Hyundai Mipo, which is smaller than the usual PC ships that the company has been building so far and thus leaves more room for its shipbuilding docks for use in helping to boost its productivity.

Alterna Capital previously placed an order for five 50,000 ton-class PCs in a show of trust for the Korean top mid-scale shipbuilder.

Hyundai Mipo has a back order of 256 ships including 180, or 70 percent, of PC-type ships, the company said.