HOUSTON, June 24, 2019 /PRNewswire/ -- McDermott
International, Inc. (NYSE: MDR) announced today a large* contract
award from Saudi Aramco for engineering, procurement, construction
and installation (EPCI) services in the Marjan and Zuluf fields,
offshore Saudi Arabia.
The contract includes the full suite of EPCI services for the
relocation of Control Rooms in Zuluf GOSP-4, Marjan GOSP 2 and 3
including the fabrication of new control rooms, boat landings and
new jacket members, as well as the upgrade of all control systems
as required.
"McDermott's extensive history with Saudi Aramco and our
commitment to the continued growth of Saudi Arabia's energy sector is reflected in
this award," said Linh Austin,
McDermott's Senior Vice President, Middle
East and North Africa. "We
have a long track record of executing similar upgrade projects and
believe that by working closely with our clients we can offer
industry leading solutions which are suited to this evolving market
segment."
The project is scheduled to be fully executed from McDermott's
Al Khobar office and Dammam
fabrication facility, in line with its strategic focus to
strengthen In-Kingdom content.
Work on the project will begin immediately and the contract
award will be reflected in McDermott's second quarter 2019
backlog.
* - McDermott defines a large contract as between USD
$50 million and USD $250 million.
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 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 32,000
employees, 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 backlog, to the extent backlog may be viewed as an indicator
of future revenues or profitability, and about the expected value,
scope, execution and timing of 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: 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, 2018 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
Senior Vice President, Communications & Marketing
+1
281-870-5269
Gentry.Brann@McDermott.com
Local Area Media Relations
Barbara Knight
Head of Communications & Marketing
Middle East and North Africa (MENA)
+971 (0)4 804 3990
bbknight@mcdermott.com
View original content to download
multimedia:http://www.prnewswire.com/news-releases/mcdermott-awarded-large-offshore-epci-contract-from-saudi-aramco-300873167.html
SOURCE McDermott International, Inc.