Hyundai Heavy Industries (HHI) has won a lucrative floating production system order that will help keep the offshore division in business.
It said on Wednesday it had signed a contract with US-based LLOG Exploration for a semi-submersible worth KRW 513bn ($454m).
This is its first such deal since 2014.
Delivery will be by the end of April in 2021.
The unit will work in the deepwater Gulf of Mexico.
The yard group was linked to a deal with LLOG last week.
HHI chief executive Kang Hwan-goo has previously warned that the company may not keep the offshore business unless employees make “sacrifices and concessions”.
Kang has said workforce costs at its offshore arm are KRW 192bn per year and could rise to KRW 600bn if it fails to win any new deals.
The group halted work at its offshore facilities in August after orders dried up and the company and union are now at odds over how to address the large number of idle workers at the division.