McDermott consortium secures EPCI contract for natural gas project offshore Vietnam

(WO) – A consortium comprised of McDermott and Petrovietnam Technical Services Corporation (PTSC) has received a limited letter of award from Phu Quoc Petroleum Operating Company for engineering, procurement, construction, installation (EPCI), and hook-up and commissioning (HUC) services for the Block B natural gas development project offshore Vietnam.

Under the full project scope, the consortium will provide EPCI and HUC services for a central production platform, living quarters platform, flare tower, and bridges for the offshore natural gas project.

The full project contract is expected to be executed between the parties in early 2024 with an award value of more than $1 billion.

"This award combines our 50 years of experience executing complex EPCI projects in the region with PTSC's technical strengths," said Mahesh Swaminathan, McDermott's Senior Vice President, Subsea and Floating Facilities. "Together, we will initiate this important groundwork as we finalize the full project scope and ultimately deliver another world-class project for Vietnam."