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McDermott Awarded Over $1.5 Bln EPCI Offshore Contract By Saudi Aramco

McDermott International, Inc. (MDR) announced Wednesday it has been awarded a contract in excess of $1.5 billion for Package 4 of Saudi Aramco's Marjan Increment Development Project to provide engineering, procurement, construction and installation (EPCI) of offshore gas facilities and pipelines.

Marjan Package 4 represents the second largest EPCI offshore contract awarded by Saudi Aramco in the Marjan Increment Development Project. The Marjan field lies in the Arabian Gulf, off Saudi Arabia's East Coast.

The EPCI mega contract will be reflected in McDermott's second quarter 2019 backlog.

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