Rigzone has reported that J Ray McDermott has begun construction on the $20m first phase of a $220m construction yard in Mexico's Tamaulipas state to build deepwater oil platforms.
McDermott is building the yard on land at Altamira port. Mexico's government awarded the company the yard space in a 30-year concession.
The company plans to bid on platform contracts Mexico
's state oil company Pemex will launch.
Further, McDermott will
seek to supply projects that oil firms such as BP (BP)
, Shell and Petrobras are developing in the Gulf of Mexico, Pineda said. The yard also could supply rigs to projects in Africa.
An additional $60m investment is planned for the yard project in 2007-08, he added.