McDermott Wins Jack and St. Malo Subsea Fabrication and Installation Project in Gulf of Mexico
25 April 2011 - 1:00PM
Business Wire
McDermott International, Inc. (NYSE:MDR) (“McDermott”),
announced today that one of its subsidiary companies was awarded
fabrication and installation work from Chevron U.S.A. Inc. to
support the development of the Jack and St. Malo fields in the Gulf
of Mexico. The project will be included in McDermott's first
quarter 2011 bookings.
McDermott's North Ocean 102 (NO102)
subsea construction vessel is currently equipped with a 7,000-ton
capacity cable and umbilical and flexible pipe carousel with
horizontal lay system. Plans to upgrade the vessel are underway.
(Photo: Business Wire)
Work will begin in 2013, with the start of fabrication of 21
rigid jumpers at McDermott’s Morgan City fabrication facility in
Louisiana. Offshore installation will begin in early 2014 using
McDermott’s subsea construction vessel North Ocean 102 (“NO102”)
and the DB16.
“We are pleased to be able to support Chevron’s deepwater
developments in the Gulf of Mexico and believe that our combined
solution of NO102’s high payload and top tension capacity coupled
with our ability to fabricate the high spec jumpers in house
provides a unique benefit for this project’s delivery,” said
Stephen M. Johnson, President and Chief Executive Officer of
McDermott.
The NO102 and its crew will transport and install more than 60
miles of umbilicals, including three control and two power
umbilicals. The jumpers and remaining subsea controls system
components, including more than 80 flying leads, will be installed
by the DB16.
Located in up to 7,150 feet of water in the US Gulf of Mexico
Walker Ridge lease blocks, the Jack South and St. Malo North and
South subsea drill centers tie back to the Jack and St. Malo
floating production platform.
More about North Ocean 102
The 427-foot NO102 enables McDermott to offer versatile
installation capabilities in the flexible pipe and product market
worldwide. The vessel has two cranes and a moon pool to support
deepwater subsea construction work and has a fast transit speed. It
is currently equipped with a 7,000-ton capacity cable and umbilical
and flexible pipe carousel with horizontal lay system. Plans are
underway to upgrade the vessel's capability by installing a
high-capacity flexible-lay system for ultra deepwater installation
work. The upgrade will include installation of a new 250-ton
crane.
North Ocean 105 (NO105), the sister ship to NO102, is currently
under construction at a Spanish shipyard. The 427-foot vessel will
be outfitted with a high capacity rigid-reeled pipe-lay system with
top-tier payload capacity. The system will also accommodate
installation of flexible products including submarine cables and
umbilicals and flexible pipelines. The anticipated delivery date of
the NO105 is 2012.
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 15,000 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 value, scope,
execution, benefits and timing associated with this project and
expected capabilities and delivery of the NO105 vessel. 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, 2010. This news release reflects management’s
view 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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