McDermott Awarded Project for Twelve Jackets Offshore Saudi Arabia
May 26 2015 - 7:00AM
Business Wire
McDermott International, Inc. (NYSE:MDR) announced today that it
has been awarded a large brownfield contract by Saudi Aramco for
the engineering, procurement, construction and installation (EPCI)
of twelve jackets for offshore oil and gas fields in Saudi Arabian
waters. Work is scheduled for completion by the end of the first
quarter of 2016 and will be included in McDermott’s second quarter
2015 backlog.
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McDermott has been awarded a large
brownfield contract by Saudi Aramco for the engineering,
procurement, construction and installation (EPCI) of twelve
jackets, similar to these pictured, for offshore oil and gas fields
in Saudi Arabian waters. (Photo: Business Wire)
This is the second award McDermott has received in 2015 from
Saudi Aramco and represents work scope bid under an existing
Long-Term Agreement. In March 2015, the client awarded McDermott a
brownfield contract for a power supply system replacement that
utilizes McDermott’s full EPCI expertise.
“The project called for an extremely responsive bid phase and
for fast-track execution,” said Tom Mackie, McDermott’s Vice
President, Middle East. “Our ability to provide schedule certainty
— through the provision of integrated EPCI services combined with
the right technical solution to meet the challenging time
constraints — was key to winning the project.”
Engineering and procurement is expected to be performed by
McDermott’s teams in Dubai, U.A.E., and Al Khobar, Saudi Arabia.
The jackets are scheduled for fabrication by McDermott’s Dubai,
U.A.E.-based fabrication facility. Vessels from the McDermott
global fleet are scheduled to undertake the installation work.
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 11,700 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,
among other things, statements about backlog, to the extent backlog
may be viewed as an indicator of future revenues, and the expected
scope, value, execution and timing associated with this project.
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, difficulties executing on the project and changes in
contracting terms and industry norms. 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, 2014 and subsequent quarterly reports.
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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version on businesswire.com: http://www.businesswire.com/news/home/20150526005306/en/
McDERMOTTInvestor
RelationsDarcey Matthews, +1.281.870.5147V.P., Investor
Relationsdmatthews@mcdermott.comorMedia RelationsRichard
Goins, +1 281.870.5932Director, Global
Communicationsrgoins@mcdermott.comorRegional
CommunicationsRissa Rosmawati, +971.4.804.3293Middle East
Communicationsrrosmawati@mcdermott.com
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