Aramco Taps McDermott for Long-Term Project Management Role in Saudi Energy Push — McDermott International, Ltd

Event summary

McDermott selected as one of 11 contractors for Aramco's Project Management Consultancy Long-Term Agreement (LTA).
Multi-year agreement covers energy, downstream, petrochemical, and low-carbon projects in Saudi Arabia.
Partnership with SLFE combines McDermott's global expertise with SLFE's local Saudi capabilities.
McDermott to provide engineering, front-end development, and project management consultancy services.
Agreement aligns with Aramco's localization and In-Kingdom Total Value Add (IKTVA) objectives.

The big picture

This agreement solidifies McDermott's position as a key player in Saudi Arabia's energy infrastructure development, particularly as Aramco expands its downstream and low-carbon initiatives. The partnership with SLFE underscores the growing trend of international firms collaborating with local Saudi firms to meet localization mandates while executing large-scale energy projects. The deal reflects Aramco's long-term investment strategy in diversifying its energy portfolio beyond upstream operations.

What we're watching

Execution Risk: Whether McDermott can sustain its track record of delivering complex projects under Aramco's localization requirements.
Market Positioning: How this long-term agreement strengthens McDermott's role in Saudi Arabia's energy transition and downstream expansion.
Strategic Alignment: The pace at which McDermott and SLFE integrate their capabilities to meet Aramco's IKTVA objectives.