McDermott to Install Umbilicals & Subsea Equipment in Deepwater Gulf of Mexico Walker Ridge Field Development
01 Juli 2013 - 2:00PM
Business Wire
McDermott International, Inc. (NYSE: MDR) (“McDermott”)
announced today that one of its subsidiaries has been awarded an
engineering, procurement and construction (EPC) contract by Exxon
Mobil Corporation for its Julia development. The value of the
contract is included in McDermott's second quarter 2013
backlog.
The Julia field is located approximately 265 miles southwest of
New Orleans in the Gulf of Mexico Walker Ridge area in water depths
of approximately 7,000 feet. The Julia Phase I project is a subsea
tie-back to a semi-submersible floating production unit and the
scope includes six subsea wells, one six-slot manifold, two
umbilicals, six jumpers, two flowlines with two steel catenary
risers, two subsea pump modules and topsides support equipment.
Production will flow through two 10-inch production flowlines with
subsea single-phase boost pumps. Exxon Mobil Corporation, the
operator, and Statoil each hold a 50 percent interest in the Julia
field development.
“McDermott offered a very competitive solution for the Julia
project with the right people, assets and technology, based on our
experience with a similar deepwater Gulf of Mexico subsea tie-back
project that we were awarded in 2011,” said Stephen M. Johnson,
Chairman, President and Chief Executive Officer of McDermott. “The
Julia subsea infrastructure requires a high level of engineering
design and construction work, a key component of which is
high-specification welding to help ensure long-term integrity and
reliability of the subsea facilities. The installation solution we
offer provides a high degree of reliability and precision using key
vessels in our fleet for deepwater lowering and flexible lay, and
further demonstrates our commitment to the subsea market.”
McDermott will undertake engineering, procurement and
construction of the jumpers, four suction piles associated with the
manifold, subsea pump, pump transformer and Subsea Distribution
Unit /Umbilical Termination Assembly, as well as the transportation
and installation of the manifold, suction piles, flying leads,
subsea pump system, the power and control umbilicals and SDU/UTAs.
McDermott will also carry out testing of the tie-back system and
mechanical completion before hand over to the customer.
McDermott expects to successfully execute this high‐profile
project employing its in‐house expertise and capabilities for
subsea engineering, high‐spec fabrication and subsea installation.
Work will commence with immediate effect in our Houston office.
McDermott deepwater installation vessel Derrick Barge 50 is
expected to undertake the installation of suction piles and subsea
equipment, including the manifold, pump station and transformer.
The vessel’s new deepwater lowering system has the capability to
lower loads of up to 480 tons to depths of up to 11,500 feet.
In addition, North Ocean 102 (NO102) is scheduled to transport
and install umbilicals, flying leads and jumpers. NO102 is a
fast-transit vessel with horizontal carousel. Recent improvements
include installation of a high-capacity flexible-lay system to
enable ultra deepwater installation work – comprising a 330-ton
top-tension flex-lay tower, with 275-ton active heave compensation
crane and 330-ton hang-off clamp capable of lowering loads to a
depth of 10,000 feet.
The offshore installation campaign is expected to begin second
quarter of 2015 and extend through 2015.
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 14,000
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 online 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, value,
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
schedule, contract cancellation, 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, 2012 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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