McDermott Awarded Second Contract for PETRONAS Bukit Tua Development in East Java, Indonesia
October 20 2014 - 4:40PM
Business Wire
McDermott International, Inc. (NYSE:MDR) (“McDermott”) announced
today that one of its subsidiaries was awarded a transportation,
installation and pre-commissioning contract by PC Ketapang II Ltd,
a subsidiary of PETRONAS, for the Bukit Tua Development Project in
the Ketapang block of East Java, Indonesia. The contract will be
included in McDermott’s fourth quarter backlog.
McDermott Derrick Barge 30 was key in
securing this contract. The vessel has a lifting capability of
3,080 tons and can install pipe up to 60 inches in diameter.
(Photo: Business Wire)
“McDermott is uniquely positioned to support the fast track
nature of the Bukit Tua development that is critical to provide
energy to power a key industrial area in Gresik, Indonesia,” said
Hugh Cuthbertson, Vice President and General Manager, Asia Pacific.
“This is the second award we have received related to the Bukit Tua
Development this year. We are currently fabricating the 1,212-ton
BTJT-A wellhead jacket at our Batam Island fabrication facility in
Indonesia, where construction work is on track and expected to
complete in November 2014.”
This new contract is for the transportation and installation of
the BTJT-A jacket, its related topsides and subsea pipeline tie-in
spools. Additionally, McDermott will undertake the
pre-commissioning of the related export and infield pipelines. All
offshore installation work will be carried out by the McDermott
Derrick Barge 30 (“DB30”).
“McDermott’s innovative engineering solutions played a key role
in us winning the project. The unique configuration of our DB30
enables work to be carried out in a shorter amount of time, which
translates to time and cost savings and helps to improve the
overall efficiency and safety of offshore operations for our
client,” said Cuthbertson
The offshore campaign is expected to be completed by end of the
first quarter of 2015.
The Bukit Tua field is located approximately 21 miles from
Madura Island and 62 miles from Surabaya, East Java, in
approximately 190 feet of water.
McDermott has operated in Indonesia since the early 1970s and
has an outstanding track record of delivering project excellence
for the Indonesian energy industry from its regional engineering
offices, Batam Island fabrication facility and fleet of
installation vessels.
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 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. These forward-looking statements include
statements about backlog, to the extent backlog may be viewed as an
indicator of future revenues, and the expected scope, execution and
timing associated with McDermott’s projects in the Bukit Tua
Development. Although we believe that the expectations reflected in
those forward-looking statements are reasonable, we can give no
assurance that those expectations will prove to have been correct.
Those statements are made by using various underlying assumptions
and are subject to numerous risks, contingencies and uncertainties,
including, among others: our inability to successfully execute on
contracts in backlog, changes in project design or schedules, the
availability of qualified personnel, changes in the scope or timing
of contracts, 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.
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 press 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.
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McDermott International, Inc.Investors & Financial
MediaSteve Oldham,
+1-281-870-5147soldham@mcdermott.comorTrade, General & Local
MediaLouise Denly, +1-281-870-5025ldenly@mcdermott.comorJuliana
Tan, +65.6668 5428yjtan@mcdermott.com
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