McDermott International Inc. received a brownfield contract for engineering, procurement, construction and installation of 12 jackets for oil and gas fields offshore Saudi Arabia from Saudi Aramco, the company said May 26.
McDermott’s teams in Dubai, United Arab Emirates, and Al Khobar, Saudi Arabia, will handle the engineering and procurement work. The service company’s Dubai-based fabrication facility will make the jackets, and vessels from its global fleet will handle the installation work.
Work is scheduled for completion by the end of 2016’s first quarter. It will be included in McDermott’s second-quarter 2015 backlog.
This is the second award McDermott has received in 2015 from Saudi Aramco, the company said. It represents a work scope bid under an existing long-term agreement.
Recommended Reading
CEO: Coterra ‘Deeply Curious’ on M&A Amid E&P Consolidation Wave
2024-02-26 - Coterra Energy has yet to get in on the large-scale M&A wave sweeping across the Lower 48—but CEO Tom Jorden said Coterra is keeping an eye on acquisition opportunities.
JMR Services, A-Plus P&A to Merge Companies
2024-03-05 - The combined organization will operate under JMR Services and aims to become the largest pure-play plug and abandonment company in the nation.
Stockholder Groups to Sell 48.5MM of Permian Resources’ Stock
2024-03-06 - A number of private equity firms will sell about 48.5 million shares of Permian Resources Corp.’s Class A common stock valued at about $764 million.
Enbridge Advances Expansion of Permian’s Gray Oak Pipeline
2024-02-13 - In its fourth-quarter earnings call, Enbridge also said the Mainline pipeline system tolling agreement is awaiting regulatory approval from a Canadian regulatory agency.
E&P Earnings Season Proves Up Stronger Efficiencies, Profits
2024-04-04 - The 2024 outlook for E&Ps largely surprises to the upside with conservative budgets and steady volumes.