McDermott International, Inc. reported Tuesday that the firm has signed a Memorandum of Understanding for an exclusive cooperation agreement to pursue offshore engineering, procurement, construction and installation (EPCI) projects within Qatari waters with Nakilat-Keppel Offshore Marine (N-KOM).
The five-year agreement would see McDermott and N-KOM -- a joint venture shipyard between Qatar’s Nakilat and Singapore's Keppel Offshore & Marine Ltd. -- develop an integrated approach to projects in Qatar by leveraging the former’s proven track record in offshore EPCI projects and N-KOM’s ship repair and offshore construction facility at the Erhama Bin Jaber Al Jalahma Shipyard in Qatar.
"Through this exclusive agreement, McDermott and Keppel build upon our long-standing relationship to combine each company’s strengths to benefit our clients in Qatar and increase Qatari local content ... With both our Dubai- and Saudi-based facilities, McDermott is well positioned to address the continued growth for the entire Middle East market. And now with this cooperative agreement, we have an even higher level of capacity and availability," McDermott’s Vice President, Middle East Linh Austin said in the press release.
McDermott will be the joint venture's prime contractor and lead engineering, utilizing its teams in Dubai and its Global Engineering Center in Chennai, India. The U.S. contractor will also lead procurement and installation with vessels mobilized from its global marine fleet, while N-KOM will serve as subcontractor and perform fabrication from its Qatar facility.
"We are pleased to partner with McDermott ... to enhance our standing as a premier marine and offshore service provider in Qatar ... This agreement will add value to our services in this area to better support the local oil and gas industry in Qatar," Abdullah Fadhalah Al Sulaiti, managing director of Nakilat commented.
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