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McDermott plans to bid for USD 5 billion worth of contracts in the next six months, covering bids in Malaysia, India, Australia, Vietnam and Indonesia as it sees a very strong potential in business expansion in Malaysia and the region.
The bid pipeline has increased compared to last year as it was USD 4 billion six months ago, showing that this is a positive sign that the oil and gas industry is on track for recovery.
Malaysia is the springboard for expansion plans in Asia by McDermott, a leading provider of integrated engineering, procurement, construction and installation (EPCI) services for offshore and subsea field developments worldwide.
McDermott will utilise its key engineering hub in Malaysia and the region to materialise the potentials and execute the jobs when they are won.
McDermott’s combination with CB&I opens up opportunity for vertical growth as the newly combined company will be a fully vertically integrated onshore-offshore company, with a broad EPCI service offering and market leading technology portfolio.
McDermott is taking part in the Offshore Technology Conference Asia 2018 from 20 to 23 March at the Kuala Lumpur Convention Centre where it will pitch up a booth at the exhibition there to showcase its services.
McDermott in Malaysia is well-positioned for future growth in terms of capability and presence in the region with n investment in asset with their Amazon for deepwater projects, as well as their n investment in digital technology to modernize engineering services and n merger with CB&I to expand into onshore offering.
All these bode well for Malaysia in terms of high skill job opportunities and knowledge transfer.
McDermott Asia in Kuala Lumpur has already increased its staff from 90 people in 2016 to approximately 500 people now, with a strong emphasis on locals.
It has exceeded the target set by Malaysia Industry Development Authority (MIDA) in terms of local content requirement and this will be improved on as the business matures in Malaysia.
As for knowledge transfer, Malaysians will have the opportunity to work on international projects such as Reliance KG-D6 and Maersk Tyra that McDermott won recently.
