McDermott Wins Offshore Project in the Middle East
10 März 2016 - 1:46AM
McDermott International, Inc. (NYSE:MDR) announced today that it
has been awarded a large contract by an upstream oil and gas
operator for a project offshore in the Middle East.
The scope includes engineering, procurement, fabrication,
transportation and installation of offshore pipelines. Engineering
and offshore mobilization of McDermott’s in-house vessels has
commenced for this fast-track assignment, with project completion
expected by the end of this year.
“The Middle East market remains very active and continues to be
a focus for McDermott and we are pleased with our customers’
continued trust in our capabilities in executing offshore EPCI work
in the region,” said Linh Austin, Vice President, Middle East Area.
“The nature of this fast-track project was ideally suited to our
vertically integrated capabilities involving our engineering,
project management and procurement teams based in Dubai, as well as
our marine assets in the region that addressed all the project
drivers to deliver the best customer-focused solution.”
The contract award will be reflected in McDermott’s first
quarter 2016 backlog.
ABOUT McDERMOTTMcDermott 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 10,600
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. As used in this
press release, McDermott includes McDermott International, Inc. and
its subsidiaries and affiliates. 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 cautions that statements in this
press release which are forward-looking, and provide other than
historical information, involve risks, contingencies and
uncertainties that may impact McDermott's actual results of
operations. These forward-looking statements include, among other
things, statements about backlog, to the extent backlog may be
viewed as an indicator of future revenues, and the expected value,
scope, execution and timing associated with the project discussed
in this press release. Although we believe that the expectations
reflected in those forward-looking statements are reasonable, we
can give no assurance that those expectations will prove to have
been correct. Those statements are made by using various underlying
assumptions and are subject to numerous risks, contingencies and
uncertainties, including, among others: our inability to
successfully execute on contracts in backlog, changes in project
design or schedules, the availability of qualified personnel,
changes in the terms, scope or timing of contracts, contract
cancellations, change orders and other modifications and actions by
our customers and business partners, difficulties executing on the
project and changes in industry norms. 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 and quarterly filings with the Securities and
Exchange Commission, including its annual report on Form 10-K for
the year ended December 31, 2015. This press 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.
McDermott International, Inc.
Investor Relations
Kathy Murray
Vice President, Investor Relations
+1 281.870.5147
kamurray@mcdermott.com
Media Relations
Rick Goins
Director, Global Communications
+1 281. 870.5932
rgoins@mcdermott.com
Regional Communications
Rissa Rosmawati
Middle East Communications
+971-4-804-3293
rrosmawati@mcdermott.com
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