McDermott and Zamil Offshore Sign JV To Serve MMO Market in Saudi Arabia
McDermott signed a joint venture (JV) agreement with Zamil Offshore to target the maintenance, modifications and operations (MMO) market in Saudi Arabia. The companies will work together on an exclusive basis to provide Saudi Aramco with comprehensive offshore brownfield EPCI solutions and asset maintenance services. The JV will be uniquely positioned to offer integrated, cost-effective MMO services to address the rising market demand in Saudi Arabia, McDermott said in a statement.
Zamil is the largest offshore and marine services provider in the Middle East. The partnership will provide McDermott access to a new revenue stream in the maintenance, turnaround, inspection, and asset integrity services market in Saudi Arabia.
"Our partnership with Zamil reflects McDermott's commitment to supporting Saudi Aramco across the oil and gas production life cycle," said Linh Austin, McDermott's senior vice president, Middle East and North Africa. "Building on the strengths and distinguished track record of both companies and fueled by McDermott's technology and digital-ready solutions," added Austin, "we will enable our customers to maximize the performance of offshore assets by increasing reliability and production uptime."
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