McDermott International, Inc., a provider of offshore engineering, procurement, construction and installation (EPCI) services, is expanding its presence in Saudi Arabia with the opening of a new office in Al Khobar.
The Houston-based company’s new office will add up to 300 additional workers, increasing its engineering capacity in Saudi Arabia. The opening follows McDermott’s Dammam yard inauguration and recruitment drive in Al-Khobar.
“The opening of our new office further solidifies our leadership in the area and our commitment to Saudi Arabia,” Linh Austin, vice president, Middle East and Caspian, said in a statement.
Austin added that the new office is one of McDermott’s initiatives that shows its commitment to the Saudi market and the In-Kingdom Total Value Add (IKTVA) program – created by Saudi Aramco to support increased levels of localization in the Kingdom of Saudi Arabia.
McDermott reported 3Q 2016 revenues of $558 million, a decrease of $247 million from 3Q 2015. Fabrication activity in the Middle East remained high throughout 3Q 2016 due to three new projects for Saudi Aramco in 2Q 2016, according to the company’s third quarter earnings statement.
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