Houston: US oil services firm McDermott International announced on Tuesday that it had signed a new long-term agreement (LTA) with Saudi Aramco for future brownfield work offshore Saudi Arabia.
The award was made on June 10 when McDermott was one of three winners of a global competition, but was only revealed on Tuesday.
Houston-based McDermott signed the deal at Saudi Aramco HQ in Dhahran. It lays out the terms and conditions by which McDermott can bid on future engineering, procurement, construction and installation (EPCI) opportunities in various fields in Saudi waters.
The two firms had a previous LTA, ongoing since June 2007, and McDermott has had 45 years of successful cooperation with Saudi Aramco.
Also signing long-term deals with Saudi Aramco this time were Singapore-listed offshore service provider Ezra Holdings and India’s Larsen & Toubro Hydrocarbon Engineering.