Daewoo Shipbuilding & Marine Engineering Co., a South Korean shipbuilder, said Thursday that it has won a $1.1 billion contract to build part of an offshore oil production platform.

Under the deal with Statoil of Norway, Daewoo Shipbuilding will deliver the topside of the platform by the end of 2016, the company said in a statement.

The platform has a capacity of producing 63,000 barrels of oil and 90,000 cubic meters of natural gas on a daily basis, according to Daewoo Shipbuilding.

So far this year, Daewoo Shipbuilding has received $2.7 billion worth of deals to construct offshore facilities. Last year, the shipbuilder clinched deals valued at more than $10 billion to build offshore facilities. (Yonhap News)