McDermott awarded offshore EPCI contract from Saudi Aramco
04 Januar 2017 - 2:30PM
McDermott International, Inc. (NYSE:MDR) announced today a contract
award from Saudi Aramco for the engineering, procurement,
construction and installation (EPCI) of four jackets and three gas
observation platforms offshore Saudi Arabia. The total weight of
all structures combined is 11,595 tons.
“As the third fast-track jacket contract from Saudi Aramco in
the last 18 months, this award is a testament to McDermott’s
successful performance on previous fast-track projects for Saudi
Aramco,” said Linh Austin, McDermott’s Vice President, Middle East
& Caspian. “McDermott’s fully-integrated EPCI solution provides
Saudi Aramco schedule certainty, one of their key drivers, while
helping them meet their aggressive schedule.”
In 2015, McDermott was awarded a project by Saudi Aramco for the
EPCI of twelve jackets; a project successfully completed in 2016.
McDermott is currently executing EPCI work for Saudi Aramco
on nine jackets offshore Saudi Arabia, which are expected to be
delivered in the third quarter of 2017.
The contract award will be reflected in McDermott’s fourth
quarter 2016 backlog. Work on the contract is expected to be
executed through the fourth quarter of 2017.
McDermott plans to use its Engineering teams in Dubai, Chennai,
India and Al Khobar, Saudi Arabia with construction taking place at
McDermott’s fabrication facilities in Dubai and Dammam, Saudi
Arabia. Vessels from McDermott’s global fleet are scheduled to
perform the installation work.
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 customers include national and major energy companies.
Operating in approximately 20 countries across the world, our
locally focused and globally integrated resources include
approximately 12,400 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. As used in this press release,
McDermott includes McDermott International, Inc. and its
subsidiaries and affiliates. To learn more, visit our website at
www.mcdermott.com.
Forward-Looking StatementIn 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 scope,
execution and timing associated with the projects 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: adverse changes in the markets in which we
operate or credit markets, 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 other business
counterparties, changes in industry norms and adverse outcomes in
legal or other dispute resolution proceedings. 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 and subsequent
quarterly reports on Form 10-Q. 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, Treasurer and Investor Relations
+1 281.870.5147
kamurray@mcdermott.com
Media Relations
Adam Morgan
Director, Global Communications
+1 281.253.9005
amorgan@mcdermott.com
Local Media Relations
Emily Beadon
Manager, Communications & Marketing
Middle East & Caspian
+971 (0) 4 804 3140
ehbeadon@mcdermott.com
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