McDermott has two significant joint venture companies:
FloaTEC LLC, a joint venture between a subsidiary of McDermott and Keppel FELS, is a leading engineering company based in Houston, Texas, USA, with a technology portfolio that includes Spars, TLPs and Semis. FloaTEC focuses on providing unbiased floating production solutions by matching the best deepwater technology to customers’ field development needs.
McDermott Wuchuan is a joint venture company between a subsidiary of McDermott and a subsidiary of state-owned China Shipbuilding Industry Corporation. The company has established a 111-acre fabrication facility based in Qingdao, China. McDermott Wuchuan offers solid, competitive, integrated engineering and construction solutions to the FPSO market worldwide.