McDermott Awarded North Dome and PDM Projects for Saudi Aramco
05 November 2012 - 11:10PM
Business Wire
McDermott International, Inc. (NYSE: MDR) (“McDermott”)
announced today that one of its subsidiaries has recently been
awarded two projects by Saudi Aramco in the Abu Safah, Marjan and
Safaniya fields in the Arabian Gulf.
The two projects consist of six topsides and a bridge that
connects to the existing Marjan facilities. In addition, the
project will require other associated modifications and brownfield
work. The combined total weight of the structures will exceed 4,000
metric tonnes.
The North Dome project, which was issued under the existing Long
Term Agreement and is included in McDermott’s third quarter 2012
backlog, comprises procurement, construction and installation of
two wellhead decks for Abu Safah and Marjan, and an auxiliary
platform and access bridge for Marjan.
The second project, also issued under the existing Long Term
Agreement, was included in McDermott’s 2012 second quarter backlog
and comprises procurement, fabrication, transportation and
installation of three electrified production deck modules (PDM’s)
in the Safaniya and Marjan fields. McDermott’s Jebel Ali
fabrication facility will construct the platforms, while vessels
from McDermott’s global fleet will be used to install the
facilities.
“We will be executing both projects using engineering, project
management and procurement resources from our Al-Khobar, Saudi
Arabia office. Our In-Kingdom activities continue to grow as we
ramp up this Engineering office and our recruitment efforts, to
position McDermott for current and future project requirements,”
said Stewart Mitchell, Senior Vice President and General Manager,
Middle East, Caspian and North Sea for McDermott.
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,
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, 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 designs 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 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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