McDermott Awarded EPCI & Commissioning Contract in the Arabian Gulf

McDermott Awarded EPCI & Commissioning Contract in the Arabian Gulf

McDermott International, Inc. (NYSE: MDR) (“McDermott”) announced today that one of its subsidiaries was awarded an Engineering, Procurement, Construction and Installation (EPCI) project for a customer in the Arabian Gulf. The value is approximately US$ 200 million and will be included in McDermott’s fourth quarter 2013 backlog.

The contract includes the fabrication, transportation and installation of offshore facilities including two production deck modules and ten observation platforms. The scope also includes works for two subsea pipeline installations, three submarine power cables and two fiber optic cables.

“Engineering work will be undertaken by the Dubai and Al Khobar offices, with construction and transportation from its Jebel Ali fabrication facility,” said Stewart Mitchell, Senior Vice President and General Manager, Middle East & Atlantic. “This project is a continuation of work we have previously completed for the same Client in the same field. Knowledge and experience gained over the years will give us a greater insight into the field characteristics and project execution requirements. We are pleased that our Client has shown continued confidence in McDermott with this award.”

Installation will be carried out using vessels from its global fleet which are expected to mobilize in the end of the second quarter of 2014. Project completion, including hookup and commissioning, is expected during the first quarter of 2015.

Source: McDermott

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