McDermott Awarded Cable Installation Project for Saudi Aramco
05 November 2012 - 11:00PM
Business Wire
McDermott International, Inc. (NYSE: MDR) (“McDermott”)
announced today that one of its subsidiaries has been awarded a
cable procurement and installation project for Saudi Aramco in the
Safaniya, Abu Safah and Marjan fields.
The contract, issued under the existing Long Term Agreement,
will include the procurement, transportation, installation, hookup
and testing of seven composite cables and corresponding anode
sleds.
“McDermott’s history of working with Saudi Aramco spans many
years and we are delighted to be working together again on this
project,” said Stewart Mitchell, Senior Vice President and General
Manager, Middle East, Caspian and North Sea for McDermott. “I
believe our understanding of Saudi Aramco’s requirements from
previous experience, combined with the proven cable laying
abilities of the North Ocean 102, will help to ensure the safe and
timely delivery of this project.”
The McDermott engineering office in Al-Khobar will undertake
design and installation engineering and procurement, while
fabrication will be carried out at the Jebel Ali facility, with
cable installation by North Ocean 102. A 15 kV composite cable
covering 26.9-kilometres will be installed in six segments in the
Safaniya, Abu Safa and Marjan fields and a 35 kV composite cable
covering 28.4-kilometres will be installed in one segment in the
Marjan field. The offshore campaign is scheduled to commence during
the second quarter of 2013.
ABOUT McDERMOTT
McDermott is a leading engineering, procurement,
construction and installation group of 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, McDermott’s integrated resources
include more than 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 http://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, use of the
North Ocean 102, overall 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, 2011 and subsequent quarterly
reports on Form 10-Q. 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.
McDermott (NYSE:MDR)
Historical Stock Chart
Von Sep 2024 bis Okt 2024
McDermott (NYSE:MDR)
Historical Stock Chart
Von Okt 2023 bis Okt 2024