Hyundai Heavy Industries, the world’s largest shipbuilder, has inked a 2 trillion won ($1.94 billion) contract to develop Abu Dhabi’s Nasr oil field, the company said Wednesday.

Hyundai signed the deal with Abu Dhabi Marine Operating Co., an affiliate of the state-run Abu Dhabi National Oil Co., to lay subsea cables and install fixed platforms in the United Arab Emirates for the development of the oil field.

Upon completion, scheduled for 2019, the facilities are expected to raise the oilfield’s daily production capacity to 65,000 barrels from the current 22,000 barrels, Abu Dhabi Marine Operating Co. officials said.

“Hyundai has already started working on the project. The field’s capacity will increase to 18,500 barrels by the end of December before it reaches the ultimate goal of 65,000 barrels,” ADMA-OPCO CEO Ali Al Jarwan told reporters after signing the contract.

The project comes just four months after Hyundai Heavy received the Letter of Award on July 7, the company said.

Construction of platforms and cables is part of a bigger project to develop the oil field, called the Nasr Full Field Development Project.

Hyundai is in charge of the second phase of the project, while Abu Dhabi-based NPCC was chosen to work on the first phase.

By Suk Gee-hyun (monicasuk@heraldcorp.com)