McDermott will handle project management, engineering, procurement and installation work on Eni Cyprus's upstream Cronos development offshore Cyprus, under a contract the company classifies as "substantial." McDermott defines that term as a contract worth between $500 million and $750 million.
The award is McDermott's first subsea project with Eni and adds to the company's list of work in the Eastern Mediterranean. Under the contract, McDermott will supply project management along with engineering, procurement and installation support for the Cronos gas field.
Subsea work covers the equipment and installation on the seafloor that connect a gas field to its production facilities.
Mahesh Swaminathan, McDermott's senior vice president for subsea and floating facilities, tied the award to the company's own vessel, pointing to "the value we bring through our technical expertise and differentiated deepwater asset, the Amazon." He said global execution teams, backed by local partners, would advance the project "safely and efficiently."
McDermott's Subsea and Floating Facilities team will run the project, drawing on staff in Houston, Perth, London and Kuala Lumpur. The company's marine construction fleet will support the work.
