McDermott International Inc. (NYSE: MDR) and Petrofac Ltd. have formed a strategic marketing alliance to pursue top-tier deepwater subsea, umbilical, riser and flowline (SURF) projects, the companies said in a Feb. 25 release.
The five-year alliance expects to provide oil and gas companies a competitive, integrated solution across a broad range of complex engineer, procure, construct, install (EPCI) subsea projects in deep and ultradeepwater across the U.S. Gulf of Mexico (GoM), Mexico, Brazil, the North Sea, Mediterranean and West Africa.
Leveraging the complementary capabilities and experience of both companies, the alliance will open up further EPCI opportunities by combining McDermott’s specialty SURF fleet, its new Derrick Lay Vessel DLV 2000 and strong subsea fabrication capability with Petrofac’s world class JSD 6000 installation vessel. Currently under construction, the JSD 6000 complements McDermott’s vessels, offering top-tier functionality for a wide range of ultradeepwater pipelay, subsea lowering and above surface construction work, through its combined J-lay, S-lay and ultra-heavy lift capabilities.
About The Alliance
The key terms of the alliance are:
- Territory: U.S. GoM, Mexico, West Africa, Brazil, North Sea and Mediterranean.
- Scope: SURF projects above US$200 million.
- Duration: Five years (plus follow-on time to deliver secured projects).
- Structure and scope: project scope is anticipated to be split between partners roughly equally, but according to the specifics of a particular opportunity, and governed by separate project agreements.
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