McDermott led consortium secures $1bn contract in Vietnam

A consortium formed by McDermott and Petrovietnam Technical Services Corporation (PTSC) has successfully secured a contract exceeding $1bn for the Block B gas development project located off the southwest coast of Vietnam, McDermott said on October 31.

The consortium received a limited letter of award from Phu Quoc Petroleum Operating Company and their responsibilities include engineering, procurement, construction, installation (EPCI), as well as hook-up and commissioning (HUC) services.

Under the comprehensive scope of the project, the consortium is tasked with providing EPCI and HUC services for essential components of the gas project. This includes the construction of a central production platform, living quarters platform, flare tower, and various bridges, all vital elements of the project's infrastructure.

The full project contract is expected to be executed between the parties in early 2024.