Aramco has selected McDermott as one of 11 contractors for a long-term project management consultancy agreement. The partnership focuses on engineering and development for energy, petrochemical, and low-carbon projects across Saudi Arabia. Working with local partner Solutions Leaders Fayez Engineering, McDermott will provide technical leadership and execution planning. This move supports Aramco's localization goals and its broader portfolio of lower-carbon energy developments.
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Low carbon developments is a broad term. I want to see the actual capacity targets for hydrogen or carbon capture in this portfolio. Without specific megawatts or tonnes of CO2, this is just a framework agreement.
The IKTVA program is the real driver here. Aramco uses these contracts to force localization of the supply chain. The technical goals are secondary to the mandate of building domestic industrial capacity.
Aramco is locking in contractors for the long haul. It is a standard move to secure engineering capacity before they scale up their green hydrogen or CCS plays.
