McDermott eyes US$5b O&G deals in Asia Pacific
US firm leveraging Malaysia’s position as regional O&G hub, says vice-president
MCDERMOTT International Inc, an American engineering and construction company, is planning to bid for US$5 billion (RM19.6 billion) worth of contracts in Asia Pacific in the next six months.
Its Asia vice-president, Ian Prescott, said McDermott was leveraging Malaysia’s position as the regional oil and gas (O&G) hub while taking advantage of the recovery in the O&G sector.
“We are confident of securing at least 10 per cent of RM55 billion of Petroliam Nasional Bhd contracts.
“We see very huge potential for the company with Malaysia as a hub, and we plan to utilise our key engineering hub here and the region to execute the jobs,” he said on the sidelines of the Offshore Technology Conference, here, yesterday.
The firm plans to expand its presence in Malaysia, India, Australia, Vietnam and Indonesia.
McDermott is a leading provider of integrated engineering, procurement, construction and installation, front-end engineering and design and module fabrication services for upstream field developments.
Prescott said the bids would include offshore, deepsea and shallow water projects, with emphasis on Southeast Asia.
McDermott has an order book of US$2 billion.
“McDermott Asia in Kuala Lumpur has increased its staff members to 500 from 90 in 2016. This will be increased further to 800 by the end of this year.”
Prescott said the company had also moved its base in Singapore to Malaysia.
“We know we are on the right track, with a growing number of projects as well as better costefficiency,” he said.