McDermott signs Aramco brownfield accord

Offshore staff

HOUSTONSaudi Aramco has awarded McDermott International (NYSE: MDR) a new long-term agreement (LTA).

This establishes terms and conditions under which McDermott can bid on future engineering, procurement, construction, and installation (EPCI) opportunities for brownfield projects on various fields offshore Saudi Arabia.

This is the second LTA between the two parties – the existing one has operated since June 2007.

07/07/2015

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