McDermott to Perform Subsea Engineering & Installation of Flexible Pipelines & Umbilicals for Petrobras Offshore Brazil on Mu...
24 Januar 2011 - 2:00PM
Business Wire
McDermott International, Inc. (NYSE:MDR) (“McDermott”),
announced today that its subsea construction vessel “Agile” has
been contracted by Petrobras to install subsea flexible pipelines
and umbilicals in up to 2,000 meters of water offshore Brazil. The
company will also provide subsea installation engineering for the
duration of the contract, which is for a five year term.
“This project highlights the confidence Petrobras has in
McDermott to provide subsea services using our subsea construction
and support vessels in the deepwater offshore installation market
in Brazil,” said Stephen M. Johnson, President and Chief Executive
Officer, McDermott International, Inc.
“Considering Brazil is an important and growing market, this is
a strategic project for us and we look forward to further building
our relationship with Petrobras.”
Work is expected to begin at the end of the second quarter of
2011, with McDermott’s dedicated subsea engineering team mobilizing
to Macae in Brazil in the coming months for the duration of the
project.
ABOUT McDERMOTT
McDermott is a leading engineering, procurement, construction
and installation (“EPCI”) company focused on executing complex
offshore oil and gas projects worldwide. Providing fully integrated
EPCI services for upstream field developments, the Company delivers
fixed and floating production facilities, pipelines and subsea
systems from concept to commissioning. McDermott’s customers
include national and major energy companies. Operating in more than
20 countries across the Atlantic, Middle East and Asia Pacific, the
Company’s integrated resources include more than 16,000 employees
and a diversified fleet of marine vessels, fabrication facilities
and engineering offices. McDermott has served the energy industry
since 1923.
To learn more, please visit McDermott’s website on the internet
at www.mcdermott.com
FORWARD LOOKING
STATEMENTS
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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