trending Market Intelligence /marketintelligence/en/news-insights/trending/vvwsq982LhwdivRMs6Ma2g2 content esgSubNav
In This List

McDermott awarded large offshore contract by Saudi Aramco

Blog

Understanding Loss Given Default A Review of Three Approaches

Blog

Insight Weekly: Path to net-zero; US manufacturing momentum; China's lithium M&A frenzy

Blog

Insight Weekly: US recession outlook; mortgage activity slowdown; climate disclosure push

Blog

Firms Realize the Value of Data Driven Decision Making


McDermott awarded large offshore contract by Saudi Aramco

McDermott International Inc. was awarded an engineering, procurement, construction and installation contract by Saudi Arabian Oil Co. for a production deck module in the Hasbah gas field with hookup and modification work in Saudi Arabia's Karan fields, according to an Aug. 1 news release from the oil and gas services provider.

The contract, which is classified as large, is estimated to be valued between $50 million and $250 million.

The work scope includes engineering, procurement, construction and installation of wellhead production deck module for four wells; 3.75 miles of 16-inch, corrosion-resistant, alloy-cladded flowline; four miles of subsea umbilical cable; offshore tie-ins to existing facilities; and electrical modifications to existing production deck modules.

Fabrication is expected to start in the second quarter of 2020, and the contract award will be reflected in McDermott's third-quarter backlog.