McDermott’s Ghana JV Gets Regulatory Approval
- Business & Finance
McDermott International has received regulatory approval for its McDermott Marine Construction Ghana Limited (MMCGL) joint venture to pursue key offshore opportunities in Ghana.
McDermott and MMCGL officials made the announcement during the 2015 Africa Oil Week in Cape Town, South Africa.
The Petroleum Commission Ghana notified MMCGL that it has been granted regulatory approval to develop contracting abilities to support the country’s subsea and offshore engineering, procurement, construction and installation (EPCI) industry.
“This critical approval opens the way for McDermott’s participation for growth in Ghana with partner Hydra Group of Accra,” said Robert Gillespie, McDermott’s Commercial Director for Europe and Africa. “From its inception, the goal for the MMCGL joint venture is to support local growth and experience transfer in Ghana to ensure delivery of effective offshore solutions.”
Delali Otchi, CEO of Hydra Group, said the important regulatory approval “is just the beginning for the MMCGL joint venture to bring local and international expertise in support of the development and growth of Ghana’s offshore oil and gas industry.”