McDermott Unit Wins Saudi Contracts Worth Up to $350MM

McDermott Unit Wins Saudi Contracts Worth Up to $350MM
McDermott's CB&I Storage Solutions unit will build 38 tanks and 13 spheres throughout Saudi Arabia.

McDermott International, Inc. reported Wednesday that its CB&I Storage Solutions unit has won engineering, procurement, fabrication and construction (EPFC) contracts for 38 tanks and 13 spheres throughout Saudi Arabia.

“CB&I Storage Solutions has had a significant presence and strong track record in Saudi Arabia since the 1930s,” Cesar Canals, CB&I Storage’s senior vice president, remarked in a written statement McDermott emailed to Rigzone. “This experience, and our strong partnerships with international contractors and major oil and gas operations, has established us as one of the most reliable providers of storage and EPFC solutions in the country.”

According to McDermott, the awards comprise one “large” and two “sizable” contracts. The company did not specify the contract amounts, but based on McDermott’s criteria the total value ranges from US$52 million to US$350 million. The firm defines a “large” contract as one valued from US$50 million to US$250 million and a “sizable” contract from US$1 million to US$50 million.

To contact the author, email mveazey@rigzone.com.



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