McDermott continues to take significant steps to support Saudi Arabia's ongoing efforts to increase localization in line with the Saudi Vision 2030. McDermott signed a Memorandum of Understanding (MoU) with Saudi Aramco as part of its Namaat Program to explore the feasibility of executing onshore modular construction in the Kingdom using McDermott's Saudi Arabia Fabrication In Ras Al-Khair (SAFIRA) fabrication yard. The signing took place during the Industrial Investment Event in Dhahran, Saudi Arabia. The partnership will identify ways to collaborate on the plant modularization concept, helping Saudi Aramco determine the extent of modularization opportunities within its upstream and downstream onshore projects portfolio. McDermott's SAFIRA fabrication yard is being developed within Saudi Aramco's King Salman International Complex for Maritime Industries and Services in Ras Al-Khair. Once fully functional, it will have the capability to fabricate and assemble offshore platforms and jackets, subsea pipelines and onshore modules.