McDermott's Expansion in Offshore Projects for Energy Success
McDermott Secures Key Offshore Contract with BRAVA Energia
McDermott has recently been awarded a significant offshore transportation and installation contract by BRAVA Energia, a leading independent oil and gas company. This contract focuses on two crucial oil fields, the Papa-Terra field in the Campos Basin and the Atlanta field in the Santos Basin, both situated offshore.
Scope of the Contract
The contract will see McDermott undertaking the transportation and installation of flexible pipelines, umbilicals, and essential subsea equipment needed for the development of two new wells at the Papa-Terra field and two additional wells at the Atlanta Phase 2 project. Furthermore, the scope encompasses pre-commissioning tasks and support services handled from their onshore base.
Industry Impact
Mahesh Swaminathan, McDermott's Senior Vice President, emphasized the importance of subsea infrastructure in driving long-term production and value of assets in deepwater environments. He noted, “We will leverage our integrated delivery model and our marine capabilities to support Brazil and the broader South American offshore market.”
Historical Context and Previous Achievements
This contract marks another milestone in McDermott’s ongoing commitment to enhancing deepwater infrastructure in Brazil. Previously, the company delivered the Papa-Terra tension leg wellhead platform, which was a pioneering effort as it was the first dry-tree floating production system ever installed offshore Brazil and the first tension leg platform in South America at that time.
Understanding 'Sizeable' Contracts
McDermott characterizes a significant contract as one valued between USD 1 million and USD 50 million, showcasing its capability to manage substantial projects within this financial range. Such contracts reflect the company's robust operational framework and commitment to delivering quality and efficiency in offshore projects.
About McDermott
McDermott is recognized as a premier, fully-integrated provider of engineering and construction solutions for the energy sector. The company prides itself on employing a technology-driven approach designed to responsibly harness global energy resources and transform them into products that meet global needs. From the conception of projects through to their commissioning, McDermott's innovative expertise is at the forefront of advancing global energy infrastructure. The company operates in over 54 countries and supports over 30,000 employees, bolstered by a diversified fleet of specialized marine construction vessels and fabrication facilities worldwide.
Frequently Asked Questions
What is the main objective of McDermott's recent offshore contract?
The contract aims to support the installation of subsea equipment and infrastructure for enhanced oil production at two key fields in Brazil.
How does this contract fit into McDermott's overall strategy?
This contract aligns with McDermott's strategy of expanding its deepwater capabilities and strengthening its presence in the South American offshore market.
What are the specific tasks outlined in the contract?
McDermott will transport and install flexible pipelines, umbilicals, and associated subsea equipment, alongside offering onshore support services.
Why is the Papa-Terra platform significant?
The Papa-Terra platform was an important advancement as it marked the first dry-tree floating production system installed offshore Brazil.
How does McDermott define a 'sizeable' contract?
A 'sizeable' contract at McDermott is defined as being valued between USD 1 million and USD 50 million, allowing for effective management of significant projects.
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