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

 

new McDermott logo (PRNewsfoto/McDermott International, Inc.)

 

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SOURCE McDermott International, Inc.

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