McDermott JV Bags Arctic LNG-2 Deal
Engineering services firm McDermott International announced that its joint venture Qingdao McDermott Wuchuan Offshore Engineering Co. Ltd (QMW) in Qingdao, China, has been awarded a contract to provide three complex modules for the Arctic LNG 2 Project in the Yamal-Nenets Autonomous Region in Russia.McDermott defines a large contract as between $50 million and $250 million. The designation refers to McDermott’s share of the award via its joint venture."This award recognizes QMW's experience and excellent performance in the Arctic on an earlier Yamal LNG project. It is further evidence that QMW is a tier one module fabricator in the LNG market.
McDermott Completes Pemex Compression Module
McDermott International, Inc. announced today that one of its joint venture companies, Qingdao McDermott Wuchuan Offshore Engineering Co. Ltd. (“QMW”), recently completed a fast-track compression process module fabrication subcontract for Jord Oil & Gas Systems B.V. (“JOGS”). JOGS is the prime contractor for the process modules for the jack-up compression platform which will connect to the PEMEX Akal G-1 platform offshore Mexico. The scope of work, awarded in the first quarter 2014, included construction-engineering, procurement of bulk materials, fabrication, pre-commissioning and transportation of three process modules, related skids and a flare boom.
McDermott in JV with China Shipbuilding
McDermott International Inc said that a subsidiary of group company J Ray McDermott has set up a joint venture with a unit of state-owned China Shipbuilding Industry Corp. The joint venture - Qingdao McDermott Wuchuan Offshore Engineering Co Ltd - plans to establish a facility in Qingdao, in eastern China's Shandong province. The new company plans to focus on the construction of floating production, storage and off-loading (FPSO) vessels, US-listed McDermott said in a statement.FPSOs are used in the offshore oil and gas industry. The vessels take oil and gas from platforms, and process and store them until they can be offloaded onto tankers or into pipelines. (Source: www.tradingmarkets.com)
