Shell Selects McDermott for Enterprise Framework Agreement

Shell plc’s SHEL affiliate, Shell Global Solutions International, has selected McDermott for a multi-year Enterprise Framework Agreement (EFA) to strengthen its global operations that drive innovation and efficiency.Through this agreement, McDermott will provide engineering, procurement and an integrated project management team services, ensuring seamless execution of Shell’s upcoming project portfolio. The EFA has been contracted for a period of three years with two one-year optional extensions.Scope of the AgreementThe agreement covers McDermott's comprehensive range of services, like Low Carbon Solutions, Offshore Middle East, and Subsea and Floating Facilities.McDermott is committed to utilizing its global engineering centers and expertise to assist Shell in developing and implementing top-tier feasibility studies and front-end engineering solutions. With McDermott’s global execution model, Shell will get an ideal partner to execute its diverse project portfolio by utilizing its low-carbon engineering, procurement, construction and installation delivery, strategic partnerships, technology innovation, fabrication and offshore installation capacity. Through this collaboration, the companies aim to advance the transition to cleaner energy while maintaining the highest safety standards.Building on a Strong PartnershipShell and McDermott share a long-standing relationship, with successful collaborations on deepwater projects across the US Gulf of Mexico, Trinidad and Tobago, Western Australia, and Malaysia. One of the projects recently completed by the two energy giants is the Whale deepwater development in the U.S. Gulf’s Perdido Corridor. For this project, McDermott completed its contracted commitment to engineering, procurement, construction, installation, and commissioning (EPCIC) activities.SHEL’s Recently Announced ProjectsRecently, Shell also approved a Final Investment Decision for the Gato do Mato project to contribute to Brazil’s oil and gas industry and this EFA was reported immediately after Shell awarded a multi-year operations and maintenance assignment to MODEC for a floating production, storage and offloading vessel to work on the Gato do Mato project. Currently, Shell is busy with many projects in its global portfolio, highlighting its commitment to the Brazilian oil and gas sector.SHEL’s Zacks Rank and Key PicksLondon-based Shell plc is one of the primary oil supermajors — a group of the U.S. and Europe-based big energy multinationals with operations that span almost every corner of the globe. Currently, SHEL has a Zacks Rank #3 (Hold).Investors interested in the energy sector might look at some top-ranked stocks like Delek Logistics Partners, LP DKL, Archrock, Inc. AROC and Canadian Natural Resources Limited CNQ.While Delek Logistics and Archrock currently sport a Zacks Rank #1 (Strong Buy) each, Canadian Natural carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.Delek Logistics Partners owns, operates, acquires and constructs crude oil and refined products logistics and marketing assets. The Zacks Consensus Estimate for DKL’s 2025 earnings indicates 34.45% year-over-year growth.Houston-based Archrock is a provider of natural gas contract compression services as well as a supplier of aftermarket services for compression equipment. The Zacks Consensus Estimate for AROC’s 2025 earnings indicates 46.67% year-over-year growth.Calgary-based Canadian Natural Resources is one of the largest independent energy companies in Canada engaged in the exploration, development and production of oil and natural gas. The Zacks Consensus Estimate for CNQ’s 2025 earnings indicates 5.53% year-over-year growth.Only $1 to See All Zacks' Buys and SellsWe're not kidding.Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent.Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators,and more, that closed 256 positions with double- and triple-digit gains in 2024 alone.See Stocks Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Canadian Natural Resources Limited (CNQ): Free Stock Analysis Report Delek Logistics Partners, L.P. (DKL): Free Stock Analysis Report Archrock, Inc. (AROC): Free Stock Analysis Report Shell PLC Unsponsored ADR (SHEL): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks