Hyundai Heavy Industries (HHI) received a US$1.4 billion order for SHWE Project in Myanmar from Daewoo International Corporation.

The SHWE Project is for development of Block A-1 and Block A-3 at Bengal Bay, 70km west of Myanmar. It will install a huge gas production and processing platform to produce gas, transport the gas to Ramree Island through subsea pipeline and export the gas to China through an onshore gas terminal.

HHI will serve the entire project on a turnkey basis including engineering, procurement, construction, installation and commission. The company will build a 40,000-ton class offshore gas platform, a subsea production system, subsea pipelines, an onshore gas terminal, a jetty and a supply base. The project will be completed by March 2013. When complete, the gas platform will produce 500 million cubic feet of gas per day.

Daewoo International and HHI will sign the official contract in the middle of December 2009 with Myanmar’s approval.

HHI has secured US$6.4 billion of orders for onshore and offshore plants surpassing its annual new order target of US$5.84 billion. It is almost 13% of Korean Plant Industries’ annual target, US$50 billion. The company is also in discussions for additional new orders.