Saudi Aramco, McDermott Arabia deal for oil services facility

Saudi Arabia’s state-run oil giant; Aramco signed on Tuesday a deal with McDermott Arabia Company to establish an engineering, procurement, construction, and installation facility in King Salman International Complex for Maritime Industries in Ras Al-Khair, Saudi Arabia.

A joint press release said that Aramco signed the lease with McDermott Arabia, a subsidiary of McDermott International Inc, to establish a fabrication facility that will be used for large scale fabrication of offshore platforms and onshore/offshore modules.

Saudi Aramco Senior Vice President of Technical Services, Ahmad Al Sa’adi said the facility would serve as a major engineering, procurement, construction, and installation hub not only the Kingdom, but for the GCC region.

Source: Reuters