Oil and Gas
McDermott Gains Middle East Gas Contracts in UAE, Cyprus Worth Up to $1.75B
U.S. based energy infrastructure contractor McDermott International has in recent weeks been awarded two large contracts in its Middle East region—one by Abu Dhabi National Oil Co. worth more than $1 billion for new work on UAE’s Umm Shaif integrated gas cap and surface pressure boosting project; and another by Italy-based energy company Eni Ltd., expected to be worth up to $750 million to develop the Cronos gas field offshore of Cyprus in the Mediterranean Sea as a new hub away from the Persian Gulf.
McDermott termed the Umm Shaif package 4 a “mega” engineering, procurement, construction and installation contract in a statement last monh, adding that the project would boost the country's gas for domestic use and enhance its LNG production and export. It is a natural gas layer that covers an underground oil reservoir operating since 1958 offshore of Abu Dhabi.
The U.S. firm said it and Qingdao McDermott Wuchuan consortium in China "will provide the complete ... scope for a new surface pressure boosting facility," including construction and installation of a jacket and topside. . “Upon completion...