US’ Mcdermott wins EPFC contracts for 38 tanks across Saudi Arabia

New York Stock Exchange-listed contracting heavyweight, McDermott International’s CB&I Storage Solutions has been awarded one large and two sizeable contracts for the engineering, procurement, fabrication, and construction (EPFC) of 38 tanks and 13 spheres in various locations across Saudi Arabia.

In a statement, McDermott said that a sizable contract is valued between $1m (SAR3.8m) and $50m (SAR188m), while a large contract is between $50m (SAR188m) and $250m (SAR939.8m).

Talking about the contract, senior vice president of CB&I Storage Solutions, Cesar Canals, said: “CB&I Storage Solutions has had a significant presence and strong track record in Saudi Arabia since the 1930s.”

“This experience, and our strong partnerships with international contractors and major oil & gas operators, has established us as one of the most reliable providers of storage and EPFC solutions in the country.”

According to McDermott the financial impact of the contract awards will be reflected in its Q1 2020 backlog.

A designer and builder of storage facilities, tanks and terminals, CB&I Storage Solutions has completed more than 59,000 structures throughout its 130-year history.

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