McDermott International, Inc. (NYSE: MDR) announced it has been selected by Saudi Aramco as one of the winners of a global competition for a new Long Term Agreement (LTA) for future brownfield work in various fields in offshore Saudi Arabia.
The LTA, which was signed on June 10, 2015, at Saudi Aramco headquarters in Saudi Arabia, establishes the terms and conditions by which McDermott can bid on future engineering, procurement, construction and installation (EPCI) opportunities in various fields in offshore Saudi Arabia.
The signing is the second LTA between McDermott and Saudi Aramco. Currently, McDermott executes work under an existing LTA with Saudi Aramco, which has been in place since June 28, 2007.
“As a long-time partner and service provider, we understand Saudi Aramco’s offshore fields, standards and specifications – and the value that Saudi Aramco places in McDermott’s fully-integrated EPCI solutions,” said Tom Mackie, McDermott’s Vice President, Middle East. “Our close relationship with Saudi Aramco is important and reflects 45 years of operational and technical success, project delivery and execution, and experience in Saudi Aramco’s offshore fields.”
Source and Link: EPC Engineer