MOSCOW (MRC) -- US offshore engineering and constructions services player McDermott has named a new president and chief executive officer (CEO) to strengthen the portfolio and forge a new path for the industry, according to Offshore Energy.
McDermott revealed on Tuesday that Michael McKelvy has been appointed to these roles, effective immediately. He will also serve as a member of McDermott’s board. Lee McIntire, who has been serving as interim CEO since June 2021 when David Dickson resigned, will continue as a member of McDermott’s board.
Nils Larsen, Chairman of McDermott’s Board of Directors, commented: “Michael joins McDermott at a pivotal time for the company as significant contract wins reflect increasing demand for McDermott’s diversified and integrated solutions.”
Namely, McDermott has secured two major contracts so far this year. At the very beginning of January, the company won a contract with QatarEnergy for the offshore scope of its North Field Expansion Project in Qatar. Later that month, McDermott revealed that this was one of the largest single contracts it had been awarded in its company history.
Also in January, McDermott was awarded an EPCIC contract by Woodside for the Scarborough floating production unit (FPU), which will be located offshore Western Australia.
According to McDermott, McKelvy has spent more than three decades working in the engineering and construction industry across the U.S. and international markets, including Europe and the Middle East. He previously led Gilbane Building Company as President and CEO since 2014.
As MRC reported earlier, McDermott plans to deliver engineering and procurement for the ethylene cracker of the Gas Chemical Complex (GCC) project. The largest polyethylene (PE) integration project in the world with China National Chemical Engineering and Construction Corporation Seven, Ltd (CC7). This agreement follows McDermott"s safe and successful delivery of the front end engineering design (FEED) and early works phases of the project. The ethane cracker project is owned by Baltic Chemical Complex LLC, (BCC) a subsidiary of RusGazDobycha, located onshore Russia in the Gulf of Finland.
Ethylene and propylene are the main feedstocks for the production of polyethylene (PE) and polypropylene (PP), respectively.
According to MR''s ScanPlast report, Russia's estimated PE consumption totalled 2,265,290 tonnes in the first eleven months of 2021, up by 14% year on year. Shipments of all grades of ethylene polymers increased. At the same time, PP shipments to the Russian market were 1,363,850 tonnes in January-November, 2021, up by 25% year on year. Supply of homopolymer PP and block-copolymers of propylene (PP block copolymers) increased, whereas supply of injection moulding PP random copolymers decreased significantly.
McDermott is a 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 Ѕempowering a brighter, more sustainable future for us all. Operating in over 54 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.
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