MDR McDermott International Inc

McDermott International, Inc. (NYSE:MDR) (�McDermott�) announced today that its subsidiary, J. Ray McDermott, S.A. (�J. Ray�), has been awarded a contract by PEMEX Exploraci�n y Producci�n, Northeast Marine Region, for the fabrication of the Maloob-C Drilling Platform. The project is located in the Ku-Maloob-Zaap field in the Bay of Campeche, Mexico, in 269 feet of water. �This is the first project award for our new facility at Altamira, Mexico,� said Bob Deason, J. Ray�s President and Chief Executive Officer. �I believe the Altamira facility will prove increasingly valuable for J. Ray in the coming years with its capabilities and deep water access to the Gulf of Mexico.� Work on the drilling platform is scheduled to begin at Altamira in February 2008, and it is expected that over 275 craftsmen and professionals will be involved with the project. Designed to sustain 18 wells, the drilling platform will have a 3,200-short ton eight-legged jacket and a two-level deck weighing just over 2,500 short tons, with more than 3,300 short tons of piles. The contract is expected to be completed in the first quarter of 2009. McDermott is an engineering and construction company, with specialty manufacturing and service capabilities, focused on energy infrastructure. McDermott�s customers are predominantly utilities and other power generators, major and national oil companies, and the United States Government. With its global operations, McDermott operates in over 20 countries with more than 20,000 employees, and can be found on the internet at www.mcdermott.com. 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 and uncertainties that may impact McDermott�s actual results of operations. The forward-looking statements in this press release include, among other things, the work scope and timing of the PEMEX Maloob-C 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 by using various underlying assumptions and are subject to numerous uncertainties and risks. 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 risk factors, please see McDermott�s annual report on Form 10-K for the year ended December 31, 2006 filed with the Securities and Exchange Commission.