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Rolls-Royce Wins £45m Contract from Hyundai

Source: www.gulfoilandgas.com 3/15/2012, Location: Europe

Rolls-Royce, the global power systems company, has received an order from Korean shipbuilder Hyundai Mipo Dockyard Co, Ltd. to design and equip four deepwater platform supply vessels. The contract is worth more than £45 million to Rolls-Royce and includes options for a further two vessels of the same type. The vessel designs are UT 776 CD - a development of the popular Rolls-Royce UT 700 series, designed specifically for supplying equipment and services to deepwater oil and gas platforms.

Jorn Heltne, Rolls-Royce, Senior Vice President Ship Technology Offshore, said: “Rolls-Royce UT design vessels are the benchmark in the deep water offshore oil and gas sector, combining proven ship design with leading edge marine technology. This latest order develops our long term relationship with Hyundai as a builder of these advanced vessels, designed to operate safely in the most challenging conditions.” Hyundai’s President and CEO Mr. W.G. Choe said: “We are extremely pleased to enter into this deepwater market segment by building offshore vessels of a world leading design from Rolls-Royce.”

The 4,400 tonne, 97 metre long vessels will feature a range of Rolls-Royce equipment including a diesel-electric propulsion system which improves fuel efficiency and lowers emissions when operating at reduced power levels. The propulsion system meets current Clean Design standards – an industry-specific range of stringent environmental and safety requirements that, through the design of the vessel, reduce emissions to sea and air. The vessels will be built at the Hyundai’s shipyard in Ulsan, Korea, and are due to be delivered in 2013 and 2014.

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