McDermott clinches transportation and installation work in Vietnam
- Business & Finance
McDermott International has been awarded a sizeable transportation and installation subcontract in Vietnam.
The contract was awarded by PetroVietnam Technical Services Corporation (PTSC) Offshore Service Joint Stock Company for the Idemitsu Kosan Co., Ltd. (IKC) Sao Vang and Dai Nguyet gas and condensate field developments in the Nam Con Son Basin, located offshore Vietnam.
McDermott said on Tuesday that the scope-of-work is expected to cover transportation and installation services for the central processing platform jacket, topside float-over, wellhead platform, flexible pipelines, subsea power cables and auxiliary services. Installation will be carried out at water depths of between 110 meters (360 feet) and 130 meters (430 feet).
McDermott plans to use resources from Kuala Lumpur, Dubai and Houston for project management and engineering. The work will be performed from 2019 to 2021.
McDermott Senior Vice President for Asia Pacific, Ian Prescott, said: “In the last two decades, we have provided engineering, procurement, construction and installation work for large, central processing platforms to pipeline installations in the region. This award enhances our position as a leading integrated oil and gas service provider in the region and reinforces that our experience and local knowledge will ensure project certainty with quality results.”
McDermott defines a sizable contract as between $1 million and $50 million. The contract award will be reflected in McDermott’s second quarter 2018 backlog.