McDermott Awarded Bay of Campeche Ayatsil-A Installation Contract for PEMEX
January 05 2015 - 7:30AM
Business Wire
McDermott International, Inc. (NYSE:MDR) (“McDermott”) announced
today that it has been awarded a contract to install the offshore
jacket, deck and piles for the Ayatsil-A drilling platform for
PEMEX Exploracion y Produccion (“PEMEX”) in the Bay of Campeche
Ayatsil field. The value of the award is included in McDermott’s
fourth quarter backlog.
Ayatsil-A jacket loaded onboard the
Intermac 600 transportation and launch barge, ready for
installation. (Photo: Business Wire)
“The Ayatsil-A installation award from PEMEX is a direct result
of the substantial local capabilities and operations of McDermott
in Mexico, and our demonstrated track record of safe and reliable
platform installations for PEMEX in the Bay of Campeche,” said
Dominic Savarino, Vice President and General Manager, Americas.
“Our unique ability to mobilize our versatile marine resources
including the heavy-lift vessel, Derrick Barge 50, capable of
lifting surface loads up to 4,400 tons, and the Intermac 600
transportation and launch barge was a critical component of the
successful award for this fast-track installation project.”
The Intermac 600 will launch the 8,400-ton jacket and the
heavy-lift Derrick Barge 50 will complete the installation of the
jacket, a 3,400-ton deck and other platform components in waters
400 feet deep. The total weight of the facility is approximately
15,800 tons.
The Ayatsil field is the largest discovery for PEMEX to date and
is expected to boost production for the country by 150,000 barrels
of oil per day. This contract award follows the successful delivery
of the Ayatsil-B eight-leg jacket and deck by McDermott in July of
2014.
ABOUT McDERMOTT
McDermott is a leading provider of integrated engineering,
procurement, construction and installation (EPCI) services for
upstream field developments worldwide. The Company delivers fixed
and floating production facilities, pipelines and subsea systems
from concept to commissioning for complex Offshore and Subsea oil
and gas projects to help oil companies safely produce and transport
hydrocarbons. Our clients include national and major energy
companies. Operating in more than 20 countries across the
world, our locally focused and globally integrated resources
include approximately 14,000 employees, a diversified fleet of
specialty marine construction vessels, fabrication facilities and
engineering offices. We are renowned for our extensive knowledge
and experience, technological advancements, performance records,
superior safety and commitment to deliver. McDermott has served the
energy industry since 1923 and is listed on the New York Stock
Exchange. As used in this press release, McDermott includes
McDermott International, Inc. and its subsidiaries and
affiliates.
To learn more, please visit our website at www.mcdermott.com
FORWARD LOOKING
STATEMENTS
In accordance with the Safe Harbor provisions of the Private
Securities Litigation Reform Act of 1995, McDermott International,
Inc. cautions that statements in this press release, which are
forward looking and provide other than historical information
involve risks, contingencies and uncertainties that may impact
McDermott's actual results of operations. The forward-looking
statements in this press release include, among other things, the
expected scope, timing and execution associated with this project.
Although McDermott's management believes that the expectations
reflected in those forward-looking statements are reasonable,
McDermott can give no assurance that those expectations will prove
to have been correct. Those statements are made based on various
underlying assumptions and are subject to numerous risks,
contingencies and uncertainties, including without limitation,
changes in project design or schedules, contract cancellations,
change orders and other modifications, and difficulties executing
on the project. If one or more of these risks materialize or if
underlying assumptions prove incorrect, actual results may vary
materially from those expected. You should not place undue reliance
on forward-looking statements. For a more complete discussion of
these and other risk factors, please see McDermott's annual and
quarterly filings with the Securities and Exchange Commission,
including its annual report on Form 10-K for the year ended
December 31, 2013 and subsequent quarterly reports on Form 10-Q.
This news release reflects management’s views as of the date
hereof. Except to the extent required by applicable law, McDermott
undertakes no obligation to update or revise any forward-looking
statement.
Photos/Multimedia Gallery Available:
http://www.businesswire.com/multimedia/home/20150105005313/en/
McDermott International, Inc.Investors & Financial
MediaSteve Oldham, +1
281-870-5147soldham@mcdermott.comorTrade, General & Local
MediaLouise Denly, +1 281-870-5025ldenly@mcdermott.com
McDermott (NYSE:MDR)
Historical Stock Chart
From Mar 2024 to Apr 2024
McDermott (NYSE:MDR)
Historical Stock Chart
From Apr 2023 to Apr 2024