Daewoo wins Angola order

Daewoo Shipbuilding clinched a DPP (Drilling and Production Platform) from Chevron Corp valued at $1.27 billion. The 85,000 tonne DPP will be the world?s largest offshore plant order in terms of value and the facility’s size and will be delivered to Chevron?s subsidiary in Angola, Cabinda Gulf Oil Company, in May 2009. The DPP will produce 130,000 barrels per day at Tombua-Landana in Angola?s prolific deepwater Block 14, which has yielded nine discoveries since 1997.

The contract was awarded on a turnkey basis, meaning Daewoo will not only build, but also operate the platform.