McDermott International, Inc. (NYSE: MDR) announced today it has been awarded a sizeable* contract from Samsung Engineering Saudi Arabia Company Ltd. for engineering, procurement and construction (EPC) of CB&I® Storage Tanks for the Jubail United Petrochemical Company (JUPC) Ethylene Oxide (EO)/Ethylene Glycol (EG) Plant No. 3 at Jubail, Kingdom of Saudi Arabia.
The fixed lump sum contract encompasses the engineering, procurement and fabrication of 23 CB&I storage tanks and modification of two existing tanks. Work on the project will predominantly be executed from Saudi Arabia utilizing McDermott’s local capabilities and facilities.
“McDermott and Samsung have a long track record of successful collaboration and safe execution in the Middle East,” said Linh Austin, Senior Vice President, Middle East and North Africa. “Our extensive experience in Saudi Arabia combined with our unparalleled technical competency in the storage sector uniquely position us to deliver this project.”
McDermott significantly expanded its service offering after combining with CB&I earlier this year. The combination brought together more than 200 years of experience in the energy sector and positioned McDermott as one of the few companies in the world to offer fully integrated, end-to-end offshore, upstream and downstream solutions across the entire energy value chain.
Work on the contract is expected to begin immediately and will be reflected in McDermott’s second quarter 2018 backlog.
* - McDermott defines a sizeable contract as between USD $1 million and USD $50 million.
