J. Ray McDermott Awarded Fabrication Work on the Gorgon Project
06 Mai 2010 - 2:45PM
Business Wire
McDermott International, Inc. (NYSE:MDR) ("McDermott") announced
today that a subsidiary of J. Ray McDermott, S.A. ("J. Ray") has
been awarded a contract by the Kellogg Joint Venture-Gorgon on
behalf of Chevron Australia Pty. Ltd., operator of the Gorgon
Project. Contracts of this nature are typically valued in excess of
$150 million and this contract will be included in McDermott’s
second quarter 2010 backlog.
More than 60 pre-assembled racks and units with an estimated
combined weight of approximately 25,000 tonnes will be constructed
at J. Ray’s Batam Island fabrication facility in Indonesia.
Steve Johnson, President and Chief Executive Officer of J. Ray
said, “This significant project underscores J. Ray’s comprehensive
fabrication capabilities at Batam Island, Indonesia and further
strengthens our position in the Liquefied Natural Gas module
fabrication market.”
J. Ray will provide services for project management, fabrication
engineering, procurement and material management, construction,
commissioning assistance, quarantine compliance, loadout and
seafastening. The pre-assembled structures, when completed, will be
installed as part of the Liquefied Natural Gas plant currently
under construction on Barrow Island, on Australia’s North West
Shelf.
Work is expected to start in the fourth quarter of 2010, with
project completion after two years.
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 value, 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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