McDermott and Nakilat-Keppel Offshore Marine to Enter Exclusive Cooperation Agreement in Qatar

Wednesday / July 27, 2016

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McDermott International, Inc. (NYSE:MDR) and Nakilat-Keppel Offshore Marine (N-KOM),  had announced yesterday a Memorandum of Understanding for an exclusive cooperation agreement to pursue offshore engineering, procurement, construction and installation (EPCI) projects within Qatari waters.

Under the five-year agreement, McDermott and N-KOM, the joint venture shipyard between Qatar’s Nakilat and Keppel Offshore & Marine, will develop an integrated approach to projects in Qatar by leveraging McDermott’s proven track record in offshore EPCI projects and N-KOM’s world-class ship repair and offshore construction facility at the Erhama Bin Jaber Al Jalahma Shipyard, strategically located in Qatar. McDermott will serve as prime contractor to customers and lead engineering with its teams based in Dubai as well as its Global Engineering Center in Chennai, India where necessary. McDermott will also lead procurement and installation with vessels mobilized from its global marine fleet.  N-KOM will serve as subcontractor and perform fabrication from its Qatar facility.

“Through this exclusive agreement, McDermott and Keppel build upon our long-standing relationship to combine each company’s strengths to benefit our clients in Qatar and increase Qatari local content,” said Linh Austin, McDermott’s Vice President, Middle East. “With both our Dubai- and Saudi-based facilities, McDermott is well positioned to address the continued growth for the entire Middle East market. And now with this cooperative agreement, we have an even higher level of capacity and availability.”

Qatar continues to be a key growth region for McDermott. Over the past 20 years, McDermott has fabricated more than 80% of the North Field gas infrastructure.

“McDermott has been involved in all major offshore developments in Qatar over the last 50 years and we look forward to furthering our strong working relationships,” added Austin.

“We are pleased to partner with McDermott, one of the leading EPCI contractors in this region, to enhance our standing as a premier marine and offshore service provider in Qatar,” said Eng. Abdullah Fadhalah Al Sulaiti, Managing Director of Nakilat. “N-KOM has delivered several offshore construction projects, including a newly built liftboat. This agreement will add value to our services in this area to better support the local oil and gas industry in Qatar.”

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