McDermott Snags Contracts Totaling More Than $700MM

McDermott announced that certain of its subsidiaries in the Middle East and Caspian region were recently awarded a number of contracts for offshore engineering and construction projects ranging from installation, through to full EPCI work, as part of our $2 billion of fourth quarter bookings.

The contracts in the Arabian Gulf, Indian Ocean and Caspian Sea are included in McDermott's fourth quarter 2010 backlog, and have a combined value in excess of $700 million.

The turnkey EPCI award is for a number of platforms and subsea facilities in the Arabian Gulf, as well as modifications to existing infrastructure and more than 100 kilometers of rigid and flexible pipelines and cables. Structures will be built at McDermott's Jebel Ali fabrication facility in the United Arab Emirates, and crews of McDermott's DB27, the newly built pipelay barge LB32 and in-house dive support vessels are expected to support the installation scope.

The second award is an installation of a jacket and topside for a customer off the east coast of India. The work will be performed by McDermott's DB101 and is scheduled to begin in the first quarter of 2011.

Finally, in the Caspian Sea, McDermott will undertake engineering, procurement, fabrication, offshore installation and pre-commissioning of pipelines, cables, umbilicals and subsea tie-ins. The installation will be performed by McDermott operated vessels with support from McDermott's engineering office in Dubai, United Arab Emirates and Baku, Azerbaijan.


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