Joint Venture Formed By McDermott, Shelfproekstroi

McDermott International, Inc., a leading international energy services company, and Shelfproekstroi, the principal marine contractor in the Republic of Azerbaijan, have formed a joint venture called Macshelf Ltd. Each of the partners holds 50 percent of Macshelf, which is headquartered in London.

The function of the joint venture is to perform engineering feasibility studies for oil and gas developments, to promote the export of steel components from Shelfproekstroi's modern fabrication yards on the Caspian Sea and to market Shelfproekstroi's design and construction services.

A second joint venture being supported by Macshelf Ltd. will involve the fabrication and installation of offshore structures, with its headquarters in Shelfproekstroi's facilities southwest of Baku, Azerbaijan.

Shelfproekstroi is the leading marine fabrication and installation contractor serving the offshore oil and gas industry in the Caspian Sea region.

Maritime Reporter Magazine, page 75,  Apr 1992 Pennsylvania

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First published in 1881 Maritime Reporter is the world's largest audited circulation publication serving the global maritime industry.