McDermott Awarded Brownfield Contract Offshore Trinidad
May 01 2012 - 8:00AM
Business Wire
McDermott International, Inc. (NYSE: MDR) (“McDermott”)
announced today that one of its subsidiaries has been awarded a
brownfield contract to provide two new permanent living quarter
modules, including the Front End Engineering Design (“FEED”),
design engineering, construction, transportation and installation
for BG Trinidad & Tobago Ltd. (“BG”) as operator of North Coast
Marine Area (“NCMA”) block. The value of this award will be
included in McDermott's second quarter 2012 backlog.
“McDermott’s engineering and construction expertise helped us
better understand BG’s brownfield requirements to provide
purpose-built modules that improve safety and comfort for BG’s
personnel and expand current accommodation capacities,” said
Stephen M. Johnson, Chairman, President and Chief Executive Officer
of McDermott. “Our project team’s highest priority from engineering
through to installation is to ensure modifications are approached
with production and safety in mind, with minimal in-field welding,
to simplify installation, to minimize platform modifications and
ensure streamlined execution of the work,” explained Johnson.
The two modules comprise a 640-ton, 60-man quarters module for
the Hibiscus Platform and a 915-ton, 62-man quarters module for the
Poinsettia Platform. The Hibiscus module will also accommodate new
electrical power generation and distribution, the design of which
is being performed by the McDermott engineering office in Houston.
The Poinsettia and Hibiscus fields are located in the North Coast
Marine Area (“NCMA”) area in waters up to 530 feet, offshore
Trinidad.
Detailed engineering is already underway at the McDermott
Houston engineering office. Structural fabrication and
architectural outfitting is being performed at McDermott’s
fabrication yard in Morgan City, Louisiana. McDermott will also
provide overall project, construction and installation management,
including quality assurance/quality control and HSES supervision
across all project phases. Offshore installation will be performed
by McDermott’s Derrick Barge DB50 in the same time frame as the
installation of BG’s NCMA 4a Hibiscus Compression Module.
ABOUT McDERMOTT
McDermott is a leading engineering, procurement, construction
and installation group of companies focused on executing complex
offshore oil and gas projects worldwide. Providing fully integrated
EPCI services for upstream field developments, the Company delivers
fixed and floating production facilities, pipelines and subsea
systems from concept to commissioning. McDermott’s customers
include national and major energy companies. Operating in more than
20 countries across the Atlantic, Middle East and Asia
Pacific, our integrated resources include approximately 13,500
employees and a diversified fleet of marine vessels, fabrication
facilities and engineering offices. McDermott has served the energy
industry since 1923.
To learn more, please visit McDermott’s website on the internet
at www.mcdermott.com
FORWARD LOOKING
STATEMENTS
In accordance with the Safe Harbor provisions of the Private
Securities Litigation Reform Act of 1995, McDermott International,
Inc. cautions that statements in this press release which are
forward-looking and provide other than historical information
involve risks and uncertainties that may impact McDermott's actual
results of operations. The forward-looking statements in this press
release include, among other things, the expected scope, execution,
and timing associated with this project, the timing of and/ use of
the DB50 and Hibiscus Compression Module installation.
Although McDermott's management believes that the expectations
reflected in those forward-looking statements are reasonable,
McDermott can give no assurance that those expectations will prove
to have been correct. Those statements are made based on various
underlying assumptions and are subject to numerous uncertainties
and risks, including without limitation, changes in project design
or schedules, contract cancellations, change orders and other
modifications, and difficulties executing on the project. 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 report on Form 10-K for the year
ended December 31, 2011. This news 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.
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