McDermott Wins EPCI Project for Four Jackets Offshore Qatar
October 08 2015 - 8:00AM
Business Wire
McDermott International, Inc. (NYSE:MDR) today announced it has
been awarded a sizeable brownfield project by Qatar Petroleum for
the engineering, procurement, construction and installation (EPCI)
of four wellhead jackets.
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McDermott has been awarded a sizeable
brownfield offshore project by Qatar Petroleum for the engineering,
procurement, construction and installation (EPCI) of four wellhead
jackets, similar to this file photograph. (Photo: Business
Wire)
Installation of two jackets in the Bul-Hanine field offshore
east of Doha has been scheduled to be completed by December 2016
with the remaining two scheduled for completion in July 2017. The
total weight of all four structures combined is 3,495 tons.
“McDermott’s integrated EPCI capabilities are critical to these
offshore projects,” said Tom Mackie, McDermott’s Vice President,
Middle East. “This award is another example of collaboration with
our customers to meet their critical production and project
requirements. The award is expected to be executed with McDermott’s
internal resources and backed by our proven track record of
designing, building and installing offshore and subsea
solutions.”
Revenue for the order will be included in McDermott’s third
quarter 2015 backlog.
McDermott has been delivering projects in Qatar for more than 40
years. Detailed design engineering and procurement is expected to
be performed by McDermott’s teams in Dubai, U.A.E. 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 (NYSE: MDR) is a leading provider of integrated
engineering, procurement, construction and installation (EPCI)
services for upstream field developments worldwide. McDermott
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 and
contractors, 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, visit
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
value, scope, execution and timing associated with the project
discussed in this press release. 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 terms, scope or timing of contracts,
contract cancellations, change orders and other modifications and
actions by our customers and business partners, difficulties
executing on the project and changes in 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 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.Investor
RelationsDarcey Matthews, +1 281.870.5147Vice President,
Investor Relationsdmatthews@mcdermott.comorMedia
RelationsRick Goins, +1 281.870.5932Director, Global
Communicationsrgoins@mcdermott.comorRegional
CommunicationsRissa Rosmawati, +971-4-804-3293Middle East
Communicationsrrosmawati@mcdermott.com
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