McDermott Awarded Two Contracts for Tendon Buoyancy Modules & West Africa Platforms
31 Mai 2012 - 2:00PM
Business Wire
McDermott International, Inc. (NYSE: MDR) (“McDermott”)
announced today that one of its subsidiaries has been awarded a
fabrication contract for components of a deepwater platform in the
Gulf of Mexico, by Heerema Marine Contractors Nederland BV.
McDermott will construct 16 tendon buoyancy modules (“TBMs”) for
the deepwater project, which will be used during offshore
installation of the platform, approximately 225 miles south of New
Orleans in waters up to 5,185 feet deep.
“McDermott’s high quality fabrication procedures for deepwater
projects meet the demanding customer specifications for delivery of
structures,” said Stephen M. Johnson, Chairman, President and Chief
Executive Officer of McDermott. “Additionally, our HSES practices
are closely aligned with the stakeholders on the project team,”
said Johnson.
McDermott will carry out procurement, fabrication and loadout of
the TBM structures from its Morgan City facility in Louisiana.
Consisting of an upper and lower module, each TBM is designed to be
interchangeable as either an upper or a lower module. Fabrication
work is expected to commence during the second quarter of 2012.
A McDermott subsidiary has also been awarded a design
engineering and procurement management contract, by VAALCO Gabon
Inc., for the Etame platform and a design engineering contract for
a potential Southeast Etame / North Tchibala (SEENT) platform, both
located offshore Gabon, West Africa.
“McDermott’s Houston-based engineering teams have a track record
of designing structures for the West Africa market,” said Johnson.
“Our early planning activities and knowledge of the technical
issues that may arise during the design scope, coupled with our
unique understanding of fabrication and installation
constructability requirements, allowed us to develop a robust
design proposal for VAALCO,” said Johnson.
The new oil and gas wellhead production platform(s) will be
located in the Etame Marin block off the coast of Gabon and will be
engineered to produce oil and gas.
VAALCO has requested McDermott’s engineering team to design a
safe, reliable and predictable production facility that will
minimize operational and maintenance issues. It is anticipated that
engineering activities will be supported by a combination of
technical and commercial personnel focused on identifying and
specifying the materials and services necessary to help ensure
project execution excellence.
Detailed engineering is already underway at the McDermott
Houston engineering office.
The values of both these contract awards will be included in
McDermott's second quarter 2012 backlog.
ABOUT McDERMOTT
McDermott is a leading engineering, procurement, construction
and installation group of companies 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, our integrated resources include approximately 13,500
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 these projects. 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 projects. 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, 2011 and subsequent quarterly reports on Form 10-Q. This news
release reflects management's views 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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