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    Hyundai, McDermott Confirm Aramco Deals


The Saudi giant recently announced it has handed out contracts worth $18bn.

by: Tim Gosling

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Natural Gas & LNG News, Middle East, Corporate, Contracts and tenders, News By Country, China, Qatar, South Korea, United States

Hyundai, McDermott Confirm Aramco Deals

South Korean Hyundai and US McDermott confirmed July 10 that they have won multi-billion dollar deals with Saudi Arabia’s Aramco.

The Saudi state oil and gas giant announced the previous day that it had handed out $18bn in contracts for the expansion of facilities at the Marjan and Berri offshore oil and gas fields. Sixteen of 90 companies invited to bid were awarded contracts, half of them Saudi.

Aramco did not confirm the names of the contractors, but it was reported that they also include Tecnicas Reunidas of Spain, China Petroleum & Chemical, and India’s Larsen & Toubro.

Saipem said July 9 that the two contracts it landed to expand oil-gas separation and gas processing facilities were worth over $3.5bn.

Hyundai E&C announced on social media July 10 that it has won contracts valued at around $2.7bn. The South Korean company will work on construction of an onshore gas and crude-processing plant at Marjan, as well as utility facilities for an offshore plant.

The same day, McDermott confirmed that it won a $1.5bn contract for offshore gas facilities and pipelines at Marjan. The contract includes the fabrication of three tie-in platforms and seven wellhead platforms, the installation of subsea trunk lines and in-field pipelines, and the laying of more than 90 km of subsea cables.

Under another contract worth more than $3bn, McDermott will work in partnership with China Offshore Oil Engineering Company (COOEC) to deliver a gas-oil separation plant for Marjan.

The engineering phase is scheduled to begin in the third quarter of 2019; fabrication should then begin in the first quarter of 2020, McDermott said. Overall completion is planned for the fourth quarter of 2022.