McDermott International has signed a memorandum of understanding with Saudi Aramco for a long-term land lease at the new maritime facility at Ras Al Khair in Saudi Arabia, currently being developed by Saudi Aramco.
McDermott plans to build a new fabrication and marine complex expected to use the facilities, increased automation and an optimized layout to increase McDermott’s abilities to service Middle East and Caspian markets.
“We are excited about this strategic move and believe it expands and strengthens our ability to service all our growing Middle East markets and our decades-long leadership position with Saudi Aramco and in the Middle East,” said David Dickson, McDermott’s president and chief executive officer.
McDermott expects to expand its capabilities and capacity in the region to serve its customers in offshore and subsea markets throughout the Middle East, Caspian and other markets in the Eastern Mediterranean Sea and offshore India and East Africa.
The future fabrication facility at Ras Al Khair is expected to provide up to 16-million man hours of capacity, up from 8-million man hours at McDermott’s current Jebel Ali facilities, with a gradual transition from McDermott’s operations in Jebel Ali expected by the mid-2020s.