Saudi Aramco has signed a long-term project management consultancy (PMC) agreement with US-based McDermott Nederland to support the delivery of large-scale energy, downstream, petrochemical and low-carbon projects across the kingdom.

McDermott is one of the 11 contractors selected by the oil major as project management consultants.

Under the agreement, the US company will leverage its global delivery model and technical expertise to deliver engineering, front‑end development (pre‑FEED and FEED) and project management consultancy services, it said in a statement.

The agreement establishes a partnership between McDermott and Solutions Leaders Fayez Engineering (SLFE), a Saudi engineering company, to execute complex, capital‑intensive projects with SLFE’s strong in‑kingdom presence and local execution capabilities.

In March, Aramco had set its capital investment guidance for 2026 at $50 to $55 billion as it continues developing its upstream and downstream projects.

Capital investment reached $52.2 billion in 2025, in line with guidance but $1 billion lower year on year.

In February, Aramco had announced the start of production at Jafurah, the Middle East’s largest liquids-rich shale gas play, and the commencement of operations at the Tanajib Gas Plant.

(Editing by Anoop Menon) (anoop.menon@lseg.com)

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