McDermott Awarded Initial Work for the Marjan Gas Oil Separation Plant (GOSP’s) Power Supply Generation System Offshore Sau...
March 02 2015 - 4:04PM
Business Wire
McDermott Middle East, Inc. (NYSE:MDR) (“McDermott”) announced
today that it has been awarded initial work for a significant power
supply system replacement contract by Saudi Aramco for the Marjan
field, offshore Saudi Arabia. Work is expected to be executed
through the fourth quarter of 2016 and will be included in
McDermott’s first quarter 2015 backlog.
McDermott has successfully executed
several offshore electrification projects for Saudi Aramco such as
the one pictured. (Photo: Business Wire)
The overall brownfield project comprises integrated engineering,
procurement, construction, installation (“EPCI”) and replacement of
the decks of two existing tie-in platforms, as well as the removal
and salvage of existing gas turbine generators, and the
installation of two new 115kV subsea power and communication
cables. The initial scope of work awarded today, comprises the
engineering, procurement, fabrication and load-out of the platforms
and cable.
“McDermott’s continuing relationship with Saudi Aramco and our
commitment to the Kingdom of Saudi Arabia is reflected in this
project award, as well as our ability to provide integrated
services and an efficient technical solution within an active
production field,” said Tom Mackie, Vice President, Middle East.
“We approach facility modifications with safety and our client’s
production in mind, using the latest technology, a full suite of
design disciplines and proprietary McDermott processes to minimize
operational interruption.”
Engineering is expected to be carried out by McDermott’s
specialist teams in Dubai, U.A.E.; Al Khobar, Saudi Arabia; and
Chennai, India, and the two new electrical decks are scheduled to
be fabricated at the Dubai-based fabrication facility.
ABOUT McDERMOTT
McDermott is a leading provider of integrated engineering,
procurement, construction and installation (EPCI) services for
upstream field developments worldwide. The Company delivers fixed
and floating production facilities, pipelines and subsea systems
from concept to commissioning for complex Offshore and Subsea oil
and gas projects to help oil companies safely produce and transport
hydrocarbons. Our clients include national and major energy
companies. Operating in more than 20 countries across the world,
our locally focused and globally integrated resources include
approximately 13,400 employees, a diversified fleet of specialty
marine construction vessels, fabrication facilities and engineering
offices. We are renowned for our extensive knowledge and
experience, technological advancements, performance records,
superior safety and commitment to deliver. McDermott has served the
energy industry since 1923 and is listed on the New York Stock
Exchange. As used in this press release, McDermott includes
McDermott International, Inc. and its subsidiaries and
affiliates.
To learn more, please visit our website at 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, and the expected
scope, execution and timing associated with this project. 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: our inability to successfully execute on contracts in
backlog, changes in project design or schedules, the availability
of qualified personnel, changes in the scope or timing of
contracts, 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 and quarterly filings with the
Securities and Exchange Commission, including its annual report on
Form 10-K for the year ended December 31, 2014. 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.
Photos/Multimedia Gallery Available:
http://www.businesswire.com/multimedia/home/20150302006536/en/
McDermott International, Inc.Investors & Financial
MediaDarcey Matthews,
+1-281-870-5147dmatthews@mcdermott.comorTrade, General &
Local MediaLouise Denly,
+1-281-870-5025ldenly@mcdermott.comRissa Rosmawati,
+971-4-804-3293rrosmawati@mcdermott.com
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