Daewoo Receives $185 Million Order From Chevron

Daewoo Heavy Industries Ltd. won a $185 million order from Chevron Overseas Petroleum to design and build three offshore oil production platforms for operation off the coast of Angola. Daewoo Heavy won the contract following six months of heated competition.

The platforms are designed to weigh 22,000 tons and are expected to be completed in 21 months.

Daewoo will provide all test operations. Following completion, Chevron reportedly has plans to put the platforms into operation in the Cabinda oil fields off the coast of Angola for the daily production of 100,000 barrels of crude per day. Chevron was reportedly impressed with the company's quality production on previous jobs.