Mcdermott Awarded Lump Sum Contract by Saudi Aramco

Source: www.gulfoilandgas.com 8/27/2015, Location: Middle East

McDermott International has been awarded a lump sum contract by Saudi Aramco for brownfield work in various fields offshore Saudi Arabia. Work on the contract is expected to be executed through the second quarter of 2018. The award follows the June 2015 signing of a second Long Term Agreement (LTA) between McDermott and Saudi Aramco for engineering, procurement, construction and installation (EPCI) opportunities in various fields offshore Saudi Arabia.

The package of various EPCI projects that make up the lump sum award represent the largest single award for McDermott’s Middle East Area operations in company history. Revenue from the fixed-price award will be included in McDermott’s third quarter 2015 backlog.

'Winning this important award and signing the new LTA sends a clear signal that our increased engagement with key clients is generating concrete results,' said David Dickson, McDermott’s President and CEO. 'Our detailed knowledge and understanding of Saudi Aramco’s objectives, as well as our proven excellence in the Kingdom and the region continue to set us apart. Delivering on strong project execution and integrating McDermott’s local knowledge are critical to future success as we execute these and other projects for Saudi Aramco.'

Tom Mackie, McDermott’s Vice President, Middle East, said, 'As one of the original two contractors for Saudi Aramco’s first LTA in 2007, we understand Saudi Aramco’s offshore fields, standards and specifications – and the value that Saudi Aramco places in McDermott’s fully integrated EPCI solutions.'

During the execution of the projects under the fixed price contract, McDermott plans to maximize in-Kingdom execution activities with a significant portion of the engineering and fabrication scope expected to be carried out by its engineering office in Al Khobar and fabrication facility in Dammam, respectively.

Additional services are expected to be provided by McDermott engineering teams in Dubai, United Arab Emirates and Chennai, India. Procurement is expected to be managed by McDermott’s Global Procurement Office based in Dubai and vessels from the McDermott global fleet, including specialized shallow-water installation vessels, are scheduled to undertake offshore installation.

McDermott provides its investors with information relating to estimated contract value in its quarterly supplemental financial information slides which can be found on the Investor Relations section of McDermott’s web site. This award would fall into the largest descriptor range included in these slides.

For more information about related Opportunities and Key Players visit Saudi Arabia Oil and Gas Projects


Israel >>  7/18/2024 - TechnipFMC (NYSE: FTI) has been awarded a large(1) integrated Engineering, Procurement, Construction, and Installation (iEPCI™) contract by Energean f...
United States >>  7/18/2024 - Sempra Infrastructure, a subsidiary of Sempra announced that Port Arthur LNG Phase 2 and Bechtel Energy (Bechtel) have signed a fixed-price engineerin...

Germany >>  7/16/2024 - The transmission system operator 50Hertz has commissioned a consortium consisting of Siemens Energy and the Spanish company Dragados Offshore with the...
Germany >>  7/15/2024 - Next important milestone reached after receiving the final building permits and funding of 100 million EUR.
Worley is a global professional ser...


Brazil >>  7/11/2024 - Recently, CIMC Raffles, a subsidiary of CIMC Group, is awarded by Seatrium, a global provider of engineering solutions to the offshore, marine, and en...
Australia >>  7/9/2024 - Wood, a global leader in consulting and engineering, has secured a six-year contract to provide brownfield engineering, procurement, and construction ...

Related Categories: Civil Works  Civil Works - Finishing works  Construction Contractors  Electrical Works  Engineering Procurement and Construction (EPC)  Engineering Procurement and Construction Management (EPCM)  General  Mechanical Works  Pipe Lines Installations  Steel Works 

Related Articles: Civil Works  Civil Works - Finishing works  Construction Contractors  Electrical Works  Engineering Procurement and Construction (EPC)  Engineering Procurement and Construction Management (EPCM)  General  Mechanical Works  Pipe Lines Installations  Steel Works 


Gulf Oil and Gas
Copyright © 2023 ICT All rights reserved. - Terms of Service - Privacy Policy.