Saudi Aramco, McDermott sign MoU for construction of offshore platforms

JEDDAH: Saudi Aramco signed a memorandum of understanding (MoU) with McDermott International for the integrated engineering procurement construction and installation (EPCI) of offshore platforms for McDermott’s growing Middle East and other regional oil and gas development markets at the King Salman International Complex for Maritime Industries and Services, according to a Saudi Aramco statement issued here on Wednesday.

This project is part of Saudi Aramco’s plan to expand its local supply chain, which will improve the company’s agility while driving additional economic and human capital development, as well new employment opportunities to help the Kingdom achieve the goals of Saudi Vision 2030.

The selection of McDermott was the result of a rigorous evaluation process, which followed extensive negotiations with several worldclass players in the offshore EPCI services field.

The project aims to create a world-class provider of offshore EPCI services throughout the Middle East and regional markets. It will build on the existing relationship between Saudi Aramco and McDermott to localize this part of the supply chain, which would improve efficiency while increasing local content, export of energy goods and services, and further development of the Kingdom’s economy.