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McDermott’S QMW Bags Module Fabrication Contract for Arctic LNG Project

Gasoil News - Published on Thu, 19 Sep 2019

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McDermott International Inc announced that its joint venture Qingdao McDermott Wuchuan Offshore Engineering Co Ltd in Qingdao China has been awarded a large contract to provide three complex modules for the Arctic LNG 2 Project in the Yamal-Nenets Autonomous Region in Russia. The scope includes the fabrication of three Pre-Assembled Unit Complex Process Modules. QMW will undertake fabrication engineering, partial procurement, construction and pre-commissioning scope. Fabrication for the modules is scheduled to commence at the end of 2019 and be completed in mid-2022.

McDermott defines a large contract as between USD 50 million and USD 250 million. The designation refers to McDermott's share of the award via its joint venture. Because QMW is accounted for as an equity method joint venture, its associated backlog is not included in McDermott's publicly reported RPO backlog (Remaining Performance Obligation backlog).

QMW is a joint venture between a McDermott and state-owned CSIC and offers integrated Engineering, Procurement, construction and Commissioning solutions for the Floating Production Storage and Offloading ("FPSO"), onshore and offshore modules market and fabrication capabilities through an 111-acre fabrication yard located in the Huangdao District in Qingdao (Shandong Province), China. Adjacent to two large shipbuilding and repair yards operated by CSIC, QMW focuses on high quality, cost-competitive FPSO topsides construction and integration, onshore and offshore module fabrication and large integrated deck fabrication.

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Posted By : Rabi Wangkhem on Thu, 19 Sep 2019
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