McDermott International announced Thursday that is has been awarded a record lump sum contract by Saudi Aramco for brownfield work in various fields offshore Saudi Arabia.
The package of various engineering, procurement, construction and installation (EPCI) projects that make up the lump sum award represent the largest single award for McDermott’s Middle East area operations in company history. McDermott’s latest award follows the June 2015 signing of a second Long Term Agreement (LTA) between McDermott and Saudi Aramco for EPCI opportunities in a number of offshore Saudi Arabian fields. Work on the latest contract is expected to be executed through the second quarter of 2018.
David Dickson, McDermott’s president and CEO, commented in a company statement:
“Winning this important award and signing the new LTA sends a clear signal that our increased engagement with key clients is generating concrete results. 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.”
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