McDermott Awarded Detailed Engineering and Long Lead Procurement for the BP Cassia C Compression Platform
March 05 2018 - 7:30AM
McDermott International, Inc. (NYSE:MDR) announced today it has
been awarded a detailed engineering and long lead procurement
services contract from BP Trinidad & Tobago, LLC (bpTT) for the
Cassia C Compression Platform, located 40 miles (65 kilometers) off
the southeast coast of Trinidad and Tobago.
The contract follows McDermott’s award for the engineering,
procurement, construction, installation and commissioning (EPCIC)
contract for the Angelin project by bpTT last year. “This award is
significant as we continue to build our relationship with bpTT
through strong collaboration and predictability in our execution,”
said Scott Munro, McDermott’s Vice President for Americas, Europe
and Africa. “We plan to leverage off our successful experience with
BP on the Angelin project.”
The Cassia C Compression project includes a new unmanned
compression platform for the existing Cassia complex. The
facility will provide gas compression to the Cassia complex via a
new bridge connected to Cassia B. Cassia C is bpTT’s third
Cassia platform, handling gas coming from its operations in the
prolific Columbus basin.
McDermott expects to use the Project Lifecycle Management (PLM)
module from its new digital platform Gemini XD to deliver advanced
technology through project execution and the development of a
digital twin of the complete system.
McDermott’s team in Houston plans to lead the engineering and
execution with support from the Company’s engineering center in
Chennai, India.
About McDermottMcDermott is a leading provider
of integrated engineering, procurement, construction and
installation (“EPCI”), front-end engineering and design (“FEED”)
and module fabrication services for upstream field developments
worldwide. McDermott delivers fixed and floating production
facilities, pipelines, installations 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 customers include national and major energy
companies. Operating in approximately 20 countries across the
world, our locally focused and globally integrated resources
include approximately 11,800 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 shares of its common
stock are 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, visit our website
at www.mcdermott.com.
Forward-Looking StatementsIn 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 the expected scope and execution 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, 2017 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.
McDermott International, Inc. Investor
RelationsTy Lawrence Vice President, Treasurer and
Investor Relations +1 281.870.5147 tplawrence@mcdermott.com
Global Media RelationsAdam MorganDirector, Global
Communications & Marketing+1
281.253.9005amorgan@mcdermott.com
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