HOUSTON, Oct. 29, 2018
/PRNewswire/ -- McDermott International, Inc. (NYSE:
MDR) today announced that it plans to partner with the Italian
oil and gas industry contractor Saipem S.p.A. to bid for
NextDecade's planned Rio Grande LNG project in Brownsville, Texas.
"Our joint bid with Saipem will feature optimized execution
strategies that result in increased certainty on schedule and cost
as compared to other LNG projects on the U.S. Gulf Coast," said
David Dickson, President and Chief
Executive Officer of McDermott. "Pursuant to NextDecade's
competitive process, we plan to submit our joint EPC proposal in
the second quarter of 2019."
NextDecade has previously disclosed it expects to achieve a
final investment decision on the project in the third quarter of
2019.
About McDermott
McDermott is a premier, fully
integrated provider of technology, engineering and construction
solutions to the energy industry. For more than a century,
customers have trusted McDermott to design and build end-to-end
infrastructure and technology solutions—from the wellhead to the
storage tank—to transport and transform oil and gas into the
products the world needs today. Our proprietary technologies,
integrated expertise and comprehensive solutions deliver certainty,
innovation and added value to energy projects around the world.
Customers rely on McDermott to deliver certainty to the most
complex projects, from concept to commissioning. It is called the
"One McDermott Way." Operating in over 54 countries, McDermott's
locally focused and globally-integrated resources include
approximately 40,000 employees and engineers, a diversified fleet
of specialty marine construction vessels and fabrication facilities
around the world. To learn more, visit 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 McDermott's plans for partnering on the
bid 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, 2017 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.
Contacts:
Investor Relations
Scott
Lamb
Vice President, Investor Relations
+1 832 513 1068
Scott.Lamb@McDermott.com
Global Media Relations
Gentry Brann
Global Vice President, Communications
+1 281 870
5269
Gentry.Brann@McDermott.com
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SOURCE McDermott International, Inc.