South Korea's Daewoo Shipbuilding to build oil platform for French Total

South Korea's Daewoo Shipbuilding and Marine Engineering said Tuesday it had signed a US$1.8 billion deal to build a floating oil production and storage platform for French energy giant Total. Daewoo, one of the world's top shipbuilders, said it would build the platform by May 2013.
The 110,000-tonne floating production, storage and offshore unit is designed to receive, process and store oil or natural gas, it said. It can be maneuvered to different locations. It will be able to process 160,000 barrels of oil or 6.5 million square meters of gas a day and store up to 1.8 million barrels of oil, the company said.
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