US oilfield services provider McDermott International signed an agreement with Saudi Aramco on Wednesday to set up a fabrication yard for offshore oil and gas platforms at the Ras Al-Khair maritime complex, according to statements by both firms.
The new project will provide integrated engineering, procurement, construction and installation (EPCI) services for offshore platforms throughout the Middle East and Caspian markets.
“The future fabrication facility at Ras Al-Khair is expected to provide up to 16 million manhours of capacity, up from 8 million manhours at McDermott’s current Jebel Ali facilities,” the Texas-headquartered firm said, adding that it plans to move operations from Jebel Ali to Ras Al-Khair by the mid-2020s.
The value of the project was not disclosed.
The Ras Al-Khair maritime complex is a joint venture between Saudi Aramco, The National Shipping Co. of Saudi Arabia (Bahri), South Korea's Hyundai Heavy Industries, and Lamprell.
The ship repair and shipbuilding complex is projected to cost over SAR 20 billion ($5.33 billion).
The project is expected to begin initial production in November 2018, followed by operation of the rig area in February 2019, the shipbuilding area in 2020, and the maintenance and overhaul area in 2021, with full production capacity to be reached by 2022.
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