A consortium comprised of McDermott and Petrovietnam Technical Services Corporation (PTSC) has received a limited letter of award from Phu Quoc Petroleum Operating Company for engineering, procurement, construction, installation (EPCI), and hook-up and commissioning (HUC) services.

Under the full project scope, the consortium will provide EPCI and HUC services for a central production platform, living quarters platform, flare tower, and bridges for the Block B gas development project off the southwest coast of Vietnam.

"This award combines our 50 years of experience executing complex EPCI projects in the region with PTSC's technical strengths," said Mahesh Swaminathan, McDermott's Senior Vice President, Subsea and Floating Facilities. "Together, we will initiate this important groundwork as we finalize the full project scope and ultimately deliver another world-class project for Vietnam."

The full project contract is expected to be executed between the parties in early 2024 with an award value of more than $1 billion.

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McDermott is a premier, fully-integrated provider of engineering and construction solutions to the energy industry. Our customers trust our technology-driven approach engineered to responsibly harness and transform global energy resources into the products the world needs. From concept to commissioning, McDermott's innovative expertise and capabilities advance the next generation of global energy infrastructure—empowering a brighter, more sustainable future for us all. Operating in over 54 countries, McDermott's locally-focused and globally-integrated resources include more than 30,000 employees, a diversified fleet of specialty marine construction vessels and fabrication facilities around the world.