McDermott, Hydra in Ghana JV

  • Business & Finance

McDermott has created of a new joint venture, McDermott Marine Construction Ghana Limited (MMCGL), that will pursue key offshore opportunities in Ghana and other developments in the African market.

Building McDermott’s presence in Ghana with minority partner Hydra Offshore Group of Accra, Ghana, the MMCGL joint venture will optimise both local and international expertise to support the development and growth of Ghana’s offshore oil and gas industry.

McDermott’s investment in this new joint venture is in line with its commitment to pursue future offshore opportunities in the African market.

“We believe the combination of McDermott’s global industry knowledge and track record of deepwater field development success, alongside Hydra Offshore’s strong local record in the Ghanaian market, optimizes this joint venture’s position to deliver the right offshore solutions and support future growth and experience transfer in Ghana,” said Scott Munro, McDermott’s Vice President, Americas, Europe & Africa.

“As Ghana’s deepwater developments become more challenging we look forward to a long and successful association building on McDermott’s extensive experience,” said Delali Otchi, Group CEO, Hydra Offshore Group.

MMCGL will operate out of Accra, Ghana. Any initial support to develop and operate the joint venture will be provided from London, UK and Houston, USA.

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