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McDermott targets Asia-Pacific work

Regional contracts worth $5 billion being targeted by US player, with Malaysia seen as hub

US contractor McDermott International plans over the next six months to bid for contracts worth a combined US$5 billion in the Asia-Pacific region, with Malaysia as its hub.

On the sidelines of OTC Asia 2018, which opened today in Kuala Lumpur, McDermott announced that projects in Malaysia, Indonesia, Vietnam, India and Australia were on its short-term radar.

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“The bid pipeline has increased compared to last year – it was $4 billion six months ago. This is a positive sign that the oil and gas industry is on track for recovery,” said the contractor.

McDermott describes Malaysia, which is home to a key engineering hub, as the “springboard” for its regional expansion plans.

The company has already increased its workforce in KL from 90 people two years ago to around 500 today and locals make up a significant proportion of its staff.

“We have exceeded the target set by Malaysia Industry Development Authority in terms of local content requirement. This will be improved on as the business matures in Malaysia,” said McDermott.

“As for knowledge transfer, Malaysians will have the opportunity to work on international projects such as Reliance Industries’ KG-D6 and the Maersk-operated Tyra that we recently won.”

Click here to read more of Upstream’s coverage from OTC Asia.