McDermott confirms Safaniya EPCI Saudi Aramco deal

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McDermott confirms Safaniya EPCI Saudi Aramco deal

McDermott International, Inc. has announced a major* contract award from Saudi Aramco for engineering, procurement, construction and installation (EPCI) services in the Safaniya onshore and offshore field.

The contract, awarded under the existing long-term agreement with Saudi Aramco, includes the full suite of EPCI services including design, fabrication, installation and pre-commissioning of 9 slipover jackets, 10 production deck modules, an electrical distribution platform and associated cables and pipelines. The combined weight of the structures will exceed 22,000 short tons (20,000 metric tons), with the pipelines totaling over 16 miles (26 kilometers) and the cables totaling around 13 miles (22 kilometers).

“McDermott continues to receive contracts under the long-term agreement for Saudi Aramco’s most considerable projects. This award is a continuation of our long-standing relationship and successful track record with Saudi Aramco,” said Linh Austin, McDermott Vice President, Middle East and Caspian. “We plan to execute much of the project from our Al Khobar office and Dammam fabrication facility, increasing our local content in country, in support of Saudi Arabia’s Vision 2030 and Aramco’s In-Kingdom Total Value Add (IKTVA) program.”

Located approximately 125 miles (201 kilometers) north of Dhahran in the Arabian Gulf, the Safaniya oil field is currently the largest offshore oil field in the world, by production. This brownfield project is the next phase of a wider campaign to replace aging facilities with electrified platforms to maintain and enhance the field’s production.

Work on the contract is expected to begin immediately and will be reflected in McDermott’s fourth quarter 2017 backlog.

McDermott has committed to a nine initiative plan to increase its contribution to the country’s localization efforts and aid Saudi Aramco in meeting its 2021 objectives.

McDermott plans to use its engineering and procurement teams in Dubai, Chennai and Al Khobar, Saudi Arabia. Construction is expected to take place at McDermott’s facilities in Dammam, Saudi Arabia and Jebel Ali, Dubai. Vessels from McDermott’s global fleet are scheduled to perform the installation work.

* – McDermott defines a major contract as between USD $750 million and USD $1,500 million.

About McDermott
McDermott is a leading provider of integrated engineering, procurement, construction and installation (“EPCI”), front-end engineering and design (“FEED”) and module fabrication services for upstream field developments worldwide. McDermott delivers fixed and floating production facilities, pipelines, installations and subsea systems from concept to commissioning for complex Offshore and Subsea oil and gas projects to help oil companies safely produce and transport hydrocarbons.

Source: www.mcdermott.com

Moving Abroad Checklist

Initial Considerations

Will your partner be travelling with you?

If so, what will they be giving up in your present home and will they be able to continue with their career in your new home? You will need to check whether a separate visa is required for your partner to work or if your visa gives that right. If they are unable to work you will need to decide on the effect on your finances and what alternatives are available to give a fulfilling life (home business, training, voluntary work).

Are you taking family with you?

Moving with family raises many exciting opportunities, but also can create challenges. The HSBC Expat Explorer survey indicates that expat kids can take six months to settle in to their new country (see article). Getting young or even older children to prepare to move and leave their friends and family behind can be a challenge and should be thought through.

The options for education is another area that needs to be thought through.

Moving your child to a new country with a different education system can be a great opportunity to broaden their experience, but if they are close to key exams the timing can make this inadvisable. If you do take your family with you, it is important to decide between joining the local school system or choosing an international school.

Where will you be living?

Whether you will be living in a house or apartment, furnished or unfurnished, these decisions will affect what you need to take with you. The time you are planning to live overseas will also affect whether you should leave your property at home empty, rent it out or sell it. See the article Sell, Store or Ship.