The company said that it is to use the long-term land lease at a new maritime facility at Ras Al Khair to increase its abilities to service its growing Middle East and Caspian markets.
The future fabrication facility at Ras Al Khair is expected to provide up to 16-million manhours of capacity, up from eight-million manhours at McDermott’s current Jebel Ali facilities.
The move from its Jebel Ali facilities to Ras Al Khair is expected to be completed by mid-2020s.
“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 ceo.
“When we look at our next 50 years of business in the Middle East, we see strong benefits to moving our business operations to Saudi Arabia, including the opportunity to modernise our facilities, move closer to Saudi Aramco and other key customers in the region.
Ras Al Khair is also the location of a proposed mega-shipyard between Saudi Aramco, National Shipping Company of Saudi Arabia (Bahri), UAE rig builder Lamprell and South Korea’s Hyundai Heavy Industries (HHI). In October HaskoningDHV UK Ltd and Hyundai Engineering & Construction Co Ltd were contracted to undertake front-end engineering (Feed) development study on the project.
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