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McDermott, Keppel to wind down FloaTec

McDermott of the US and Singapore-based Keppel Fels have decided to wind down their Houston-based FloaTec joint venture in a sign of the tough times facing upstream engineering and construction contractors.

Major role: FloatTec has won some major awards, including design of the Papa Terra TLP in Brazil
Major role: FloatTec has won some major awards, including design of the Papa Terra TLP in Brazil
  • Luke Johnson, Kathrine Schmidt & Russell Searancke, in Houston & Wellington
Published 8 April 2016, 05:57Updated 18 October 2016, 05:05