McDermott Awarded Subsea Cable Installation Contract for Saudi Aramco
05 März 2014 - 12:00AM
Business Wire
McDermott International, Inc. (NYSE: MDR) (“McDermott”)
announced today that one of its subsidiaries was awarded a
substantial contract to provide the electrical power supply system
for Saudi Aramco in the Abu Ali and Khursaniyah fields in the
Arabian Gulf. This contract is included in McDermott’s fourth
quarter 2013 backlog.
The project includes the procurement, construction, and
installation of two 20-kilometer 230 kV subsea circuits routed
offshore to connect land based facilities. The cables weigh
approximately 95 kilograms per meter.
“The subsea cables for this project are some of the largest ever
transported and installed in the Arabian Gulf,” said David Dickson,
President and Chief Executive Officer. “We successfully completed
another similar 230-kV cable installation project in similar
conditions earlier this year. This gave us a unique insight into
the project execution requirements for such complex installation
work, and we are pleased that Saudi Aramco has shown repeat
confidence in us with this award.”
Installing cables of such magnitude in extremely shallow water
presents a variety of complex challenges. Technical modifications
to an installation barge in the McDermott fleet enable it to lay
the cable in extremely shallow water. Project completion, including
hookup and commissioning, is expected to be in the third quarter of
2015.
ABOUT McDERMOTT
McDermott is a leading provider of integrated engineering,
procurement, construction and installation (EPCI) services for
upstream field developments worldwide. The Company delivers fixed
and floating production facilities, pipelines and subsea systems
from concept to commissioning for complex Offshore and Subsea oil
and gas projects to help oil companies safely produce and transport
hydrocarbons. Our clients include national and major energy
companies. Operating in more than 20 countries across the
world, our locally focused and globally integrated resources
include approximately 14,000 employees, a diversified fleet of
specialty marine construction vessels, fabrication facilities and
engineering offices. We are renowned for our extensive knowledge
and experience, technological advancements, performance records,
superior safety and commitment to deliver. McDermott has served the
energy industry since 1923 and is listed on the New York Stock
Exchange.
To learn more, please visit our website 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 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, 2013. 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 International, Inc.Investors & Financial
MediaSteve Oldham, (1)
281.870.5147soldham@mcdermott.comorTrade, General & Local
MediaLouise Denly, +1.281.870.5025ldenly@mcdermott.comorRissa
Rosmawati, +971.56.683.4351rrosmawati@mcdermott.com
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