HOUSTON, Oct. 24, 2019 /PRNewswire/ -- McDermott
International, Inc. (NYSE: MDR) announced it has been awarded a
sizeable* fabrication subcontract for the Greater Tortue Ahmeyim
natural gas project.
"This award reflects the value of holistic project planning to
get the best outcomes for the project and the customer. Fabrication
for both the SPS and subsea, umbilicals, risers and flowlines
(SURF) scope for the Greater Tortue Ahmeyim project will now be
undertaken in McDermott's yard in Batam, which enables a
fast-tracked fabrication schedule to be delivered," said
Ian Prescott, Senior Vice President
for Asia Pacific.
The scope of work for fabrication of the SPS includes: project
management; fabrication engineering; procurement; pre-assembly;
fabrication; acceptance tests; and system-integration tests. The
work is scheduled to begin in the third quarter 2019 and is
expected to be completed by third quarter 2020 in McDermott's
fabrication facility in Batam, Indonesia. As part of a previous award,
McDermott is also fabricating the pipeline structures and riser
structure for the Greater Tortue Ahmeyim Project in Batam.
The award will be reflected in McDermott's third quarter 2019
backlog.
* - McDermott defines a sizeable contract as between USD
$1 million and USD $50 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 scope,
value, 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 and
Administration
+1 281 870
5269
Gentry.Brann@McDermott.com
Asia Pacific Media Relations
Miki O'Farrell
Manager, Marketing Asia Pacific
+60 12 305
3609
mofarrell@mcdermott.com
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SOURCE McDermott International, Inc.