Aramco Selects McDermott for Project Management Consultancy Long-Term Agreement

PR Newswire

HOUSTON, June 3, 2026

HOUSTON, June 3, 2026 /PRNewswire/ — McDermott, via McDermott Nederland B.V., has been selected by Aramco as one of the 11 selected contractors for a Project Management Consultancy (PMC) Long-Term Agreement (LTA) to support delivery of large-scale energy, downstream, petrochemical and low carbon projects across the Kingdom of Saudi Arabia.

The multi‑year PMC LTA positions McDermott as an engineering and project management service provider within Aramco’s strategic investment programs. Under the agreement, McDermott will leverage its global delivery model and technical expertise to deliver engineering, front‑end development (pre‑FEED and FEED) and project management consultancy services.

The agreement establishes a strategic partnership between McDermott and Solutions Leaders Fayez Engineering (SLFE), a leading Saudi engineering company and Aramco-approved general engineering services + (GES+) contractor. The collaboration combines McDermott’s global experience in executing complex, capital‑intensive projects with SLFE’s strong in‑kingdom presence and local execution capabilities.

“Just as the United States and the Kingdom share a commitment to long-term collaboration, we share a commitment with SLFE to localization, knowledge transfer and sustainable capacity building within the Kingdom,” said Michael McKelvy, McDermott’s Chief Executive Officer and Chair of the Board.

“This long‑term agreement reflects Aramco’s confidence in our proven execution capabilities and our track record of delivering complex, world‑class projects in the Kingdom,” added Rob Shaul, McDermott’s Senior Vice President of Low Carbon Solutions.

Through the McDermott–SLFE partnership, projects will be executed using an integrated Out‑of‑Kingdom and In‑Kingdom delivery model, enabling efficient execution while meeting Aramco’s localization and In-Kingdom Total Value Add (IKTVA) objectives. SLFE will play a key role in engineering and client support within the Kingdom, while McDermott will lead overall execution planning, governance and technical leadership through its established global engineering centers.

“We are proud to partner with McDermott on this strategic agreement with Aramco,” said Ashraf Alkhaznadar, SLFE’s President & CEO. “Together, we bring complementary strengths that support Aramco’s long‑term vision while continuing to develop national engineering capability.”

McDermott has a well-established relationship with Aramco and a proven track record of executing complex engineering and energy infrastructure projects in the Middle East. This award further strengthens McDermott’s role in supporting the Kingdom’s long‑term development goals and energy transition.

About McDermott
McDermott is a premier, fully-integrated provider of engineering and construction solutions to the energy industry. Our customers trust our technology-driven approach engineered to responsibly harness and transform global energy resources into the products the world needs. From concept to commissioning, McDermott’s innovative expertise and capabilities advance the next generation of global energy infrastructure—empowering a brighter, more sustainable future for us all. Operating in over 30 countries, McDermott’s locally-focused and globally-integrated resources include more than 30,000 employees, a diversified fleet of specialty marine construction vessels and fabrication facilities around the world. To learn more, visit www.mcdermott.com.

Forward-Looking Statements
McDermott cautions that statements in this communication which are forward-looking, and provide other than historical information, involve risks, contingencies and uncertainties. Although we believe that the expectations reflected in those forward-looking statements are reasonable, we can give no assurance that those expectations will prove to have been correct. Those statements are made by using various underlying assumptions and are subject to numerous risks, contingencies and uncertainties, including, among others: adverse changes in the markets in which we operate or credit or capital markets; our inability to successfully execute on contracts in backlog; changes in project design or schedules; the availability of qualified personnel; changes in the terms, scope or timing of contracts, contract cancellations, change orders and other modifications and actions by our customers and other business counterparties; changes in industry norms; actions by lenders, other creditors, customers and other business counterparties of McDermott and adverse outcomes in legal or other dispute resolution proceedings. If one or more of these risks materialize, or if underlying assumptions prove incorrect, actual results may vary materially from those expected. You should not place undue reliance on forward-looking statements. This communication reflects the views of McDermott’s management as of the date hereof. Except to the extent required by applicable law, McDermott undertakes no obligation to update or revise any forward-looking statement.

Contacts:

Global Media Relations
Reba Reid
+1 281 588 5636
RReid@McDermott.com