Hyundai Heavy Busy In Africa

South Korean industrial titan Hyundai Heavy Industries has won an approximately 900 million dollar contract to build two offshore gas platforms in Nigeria.The deal is with a U.S. integrated oil company such as Exxon Mobil or Chevron,a person familiar with the matter disclosed.
Hyundai Heavy will carry out the entire project,from engineering,procurement,construction and installation to commissioning of the offshore platforms.
Hyundai Heavy was founded in 1972.It leads the world in shipbuilding tonnage,and is also active in the engineering and building of industrial plants;engines and machinery;construction equipment;electrical systems;and green energy.
The Hyundai Spirit is defined as Creative Wisdom;Positive Thinking;and Unwavering Drive.
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Exxon Expands Search

Exxon Mobil(XOM) has ramped up its quest for new hydrocarbon fields.In 2007,Exxon replaced 76% of its production-the least in 14 years.A map of the Irving,Texas firm's drilling plans to meet this challenge is literally a map of the world.From Alaska to Indonesia,Exxon will be returning to its wildcat roots,drilling wells in areas not known for their oil and gas reserves,such as inland Germany,Ireland,Greenland,New Zealand and Madagascar.Using advanced technology that allows drilling from huge floating rigs up to two miles into the ocean floor,Exxon will explore off the coasts of Qatar,Angola,Nigeria and Libiya.By 2012,it expects 50% of its production to come from West Africa,Central Asia,Russia and the Middle East-up from today's 36%.Other exploration sites include Colombia and Brazil.The Brazil project is near Brazil's recent large discovery in the Tupi field.The largest Western oil company,Exxon will increase its capital spending by 25% to 125 billion U.S. over the next five years.