McDermott International, a US engineering, procurement, and construction (EPC) contractor, has reported a commercial pipeline valued at $130 billion over the next two years, as disclosed in its first-quarter results. The pipeline is segmented into three main business areas: low carbon solutions account for the largest portion at nearly 49%, followed by subsea and floating facilities at 28%, and offshore Middle East operations at 23%.

Geographically, the Middle East region represents 33% of the total commercial pipeline, making it a significant market for the company. McDermott is a key participant in Saudi Aramco's long-term agreement (LTA) framework and is a leading offshore contractor in Qatar. Other regions include the Americas at 32%, Europe and Africa at 25%, and Asia Pacific at 10%. The company's two-year commercial pipeline stood at $123 billion at the end of the first quarter of 2025.

In terms of financial performance, McDermott's order backlog as of the end of the first quarter of 2026 was $17.4 billion, while order inflow reached $1.57 billion, a 14% decrease compared to the same period last year. New orders were primarily driven by change orders on major projects such as the Golden Pass LNG project in Texas, Canada's Woodfibre LNG project, and others across the portfolio. The company reported a positive EBITDA of $108 million in the first quarter of this year, a significant improvement from a negative EBITDA of $5 million in the same quarter of 2025.

CEO Michael McKelvy noted that operations in the Middle East continue despite fluid regional conditions, and the company remains focused on sustaining momentum and delivering on its 2026 plan with discipline and execution excellence. Earlier this year, McKelvy expressed a positive outlook for the company despite ongoing challenges in the EPC sector.