J. Ray McDermott Awarded EPCI Project by Saudi Aramco
24 März 2010 - 4:33PM
Business Wire
J. Ray McDermott, S.A. (“J. Ray”), a subsidiary of McDermott
International, Inc. (NYSE:MDR) (“McDermott”), has been awarded a
project to upgrade crude gathering and power supply facilities in
Saudi Aramco’s Safaniya field. The infrastructure upgrade and
electrification project will help sustain crude oil production to
meet Saudi Aramco’s Maximum Sustainable Capacity targets for the
field by 2013.
Steve Johnson, President and Chief Executive Officer of J. Ray
said, “Innovative engineering, global procurement strength,
installation by our new pipelay barge LB32 in tandem with other
vessels from our fleet, and our firm understanding of Aramco’s
requirements enabled us to develop an execution strategy to deliver
this significant project to meet the customer’s demands.”
The work includes engineering, procurement, construction, and
installation (“EPCI”) of a new tie-in platform (STP-20) with a
6,000-ton topside, a new electrical deck module for an existing
platform (STP-18), a 53-kilometer, 42-inch trunk line, four new
in-field lateral flowlines and valve skids, 156 kilometers of
subsea electrical cable, and the modification and electrification
of nine existing wellhead platforms.
Saudi Aramco has continuously employed ground breaking methods
and technology for the electrification of the Safaniya field,
incorporating the largest power cables in the region.
Engineering design work will begin in the second quarter of 2010
with contract completion expected during 2013.
The multi-faceted nature of this project will allow J. Ray to
demonstrate its full range of services, from design development,
detailed engineering, procurement, construction of new facilities,
and installation of platforms, pipelines and cables, as well as
brownfield modifications to existing facilities from its regional
headquarters in Jebel Ali.
J. Ray has successfully executed Maintain Potential Projects for
Saudi Aramco in the Berri, Marjan, Zuluf, Abu-Safah and Safaniya
fields since the early 1980’s.
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 25,000 employees.
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 expected scope, execution,
and timing 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 uncertainties and risks, 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. For a more
complete discussion of these and other risk factors, please see
McDermott’s annual report on Form 10-K for the year ended December
31, 2009.
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