McDermott in North Sea return with Ocean deal

The US player’s arrangement with Ocean Installer — which is majority-owned by HitecVision — covers rigid pipelines to be installed by vessels McDermott currently has under construction, as well as the subsea umbilical, riser and flowline market.

McDermott’s well-flagged return to the North Sea pipelay and subsea market comes 13 years after it closed its European head office in London due to a dearth of work, and 15 years after the US player — then called J Ray McDermott — dissolved its regional joint venture with ETPM.