McDermott Breaks Ground on Deepwater Platform Yard

US company J Ray McDermott has begun construction on the US$20mn first phase of a US$220mn construction yard in Mexico's Tamaulipas state to build deepwater oil platforms.

"We expect to be in conditions to start building platforms in July 2007," company Mexico country manager Juan Manuel Pineda told BNamericas.

McDermott is building the yard on land at Altamira port. Mexico's government awarded the company the yard space in a 30-year concession.

The company plans to bid on platform contracts Mexico's state oil company Pemex will launch.

Further, McDermott will seek to supply projects that oil firms such as BP (NYSE: BP), Shell (NYSE: RDS-B) and Petrobras (NYSE: PBR) are developing in the Gulf of Mexico, Pineda said. The yard also could supply rigs to projects in Africa.

An additional US$60mn investment is planned for the yard project in 2007-08, he added.

Visit BNamericas to access our real-time news reports, 10-year archive, Fact File company database, and latest research reports. Click here for a Free two week trial to our Latin America Oil & Gas information service.

For More Information on the Offshore Rig Fleet:
RigLogix can provide the information that you need about the offshore rig fleet, whether you need utilization and industry trends or detailed reports on future rig contracts. Subscribing to RigLogix will allow you to access dozens of prebuilt reports and build your own custom reports using hundreds of available data columns. For more information about a RigLogix subscription, visit

Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
Technical Sales- Decontamination/Chemical Cleaning Services
Expertise: Sales
Location: Baton Rouge, LA
Account Manager - Western US - Vapor Control & Degassing
Expertise: Sales
Location: Long Beach, CA
Sales Manager - Vapor Control/Degassing Services
Expertise: Sales
Location: Houston, TX
search for more jobs

Brent Crude Oil : $51.78/BBL 0.77%
Light Crude Oil : $50.85/BBL 0.83%
Natural Gas : $2.99/MMBtu 4.77%
Updated in last 24 hours