To be operational for five years, the alliance expects to provide oil and gas companies a new solution across a range of engineering, procurement, construction and installation (EPCI) subsea projects in deep and ultra-deepwater in the US Gulf of Mexico, Mexico, West Africa, Brazil, Mediterranean and North Sea.
It will combine McDermott’s specialty SURF fleet, its new Derrick Lay Vessel DLV 2000 and subsea fabrication capability with Petrofac’s JSD 6000 installation vessel.
The project scope is expected to be equally divided between the companies according to specifics of a particular opportunity, and governed by separate project agreements.
McDermott senior vice-president of commercial Scott Cummins said: "The strategic value of this alliance benefits our clients by combining each company’s strengths to create a new competitive top-tier market participant.
"As a leading offshore and subsea EPCI contractor, McDermott has a demonstrated track record of delivering complex, Subsea projects such as the ongoing INPEX Ichthys Gas Condensate SURF project offshore Australia.
"We look forward to partnering with Petrofac on projects of this complexity and scale in the deepwater environment."
Petrofac provides services across the oil and gas asset life cycle in 29 countries globally.
McDermott delivers EPCI services for global upstream field developments.
Image: Petrofac’s JSD 6000 new vessel complements McDermott’s worldwide fleet. Photo: courtesy of Business Wire.