Qatar’s Nakilat on Monday said it has signed an agreement with McDermott to form a joint venture (JV) company providing offshore and onshore fabrication services in the country.
The strategic partnership aims at increasing productivity levels at Nakilat’s Erhama Bin Jaber Al Jalahma Shipyard and developing local construction capabilities to support the increasing demand for the construction of offshore and onshore structures in Qatar.
The establishment of the new joint venture is aligned with Qatar’s newly launched localization program, which is designed to enhance the resilience of the energy sector’s supply chain, Nakilat said in a statement.
Nakilat will own 60 percent in the joint venture with McDermott owning the remaining 40 percent.
This new joint-venture comes at a time, with Qatar’s ambition to localize its energy sector’s supply chain and increase its liquefied natural gas production from 77 to 110 million tonnes per annum in the coming years.
This project will provide a range of new services that will support Nakilat and its joint ventures to undertake the construction, maintenance, repair and refurbishment of offshore and onshore structures, and all types of vessels, the company said.
The joint venture will be operated from Nakilat’s shipyard in Ras Laffan Industrial City, and the venture will be able to service the growing demand for offshore and onshore modular construction locally in Qatar.
In addition, the JV will be able to leverage on McDermott’s renowned expertise in the field of onshore and offshore construction and Nakilat’s wealth of experience in providing fabrication services to Qatar’s oil and gas industry, Nakilat’s statement reads.