McDermott International Company News

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McDermott Divests Pipe Fabrication Business
Wednesday, June 03, 2020Ithaca Acquisition Holdings has completed its acquisition of the former pipe fabrication assets of The Shaw Group from McDermott International, Inc.

Texas Compression Trains Contract Goes to Siemens
Thursday, May 28, 2020The photo above shows a BOG compressor. PHOTO SOURCE: Siemens

Saudi Petchems Contract Goes to McDermott
Friday, May 22, 2020A subsidiary of Advanced Petrochemical Co. has awarded McDermott International, Inc. a contract for a propane dehydrogenation unit.

Big Jump Predicted for Nat Gas Prices
Friday, May 22, 2020Here are some of Rigzone's top stories during the last week, just in case you missed them…

McDermott Unit Raises Another Roof at Calcasieu Pass
Thursday, May 21, 2020This May 19, 2020, photo shows the North LNG Tank at the Calcasieu Pass site. PHOTO SOURCE: Venture Global LNG, Inc.

Cameron's Train 3 Starts Producing LNG
Wednesday, May 20, 2020Cameron LNG continues to make strides toward completion of Train 3 and final completion for the full project.

McDermott Lands Middle East FEED Contract
Tuesday, May 19, 2020Work on the project is set to start immediately.

McDermott Wins Caribbean LPG Contract
Thursday, May 07, 2020McDermott's CB&I Storage Solutions unit will build four LPG spheres for a Caribbean energy infrastructure project.

McDermott Unit Wins Saudi Contracts Worth Up to $350MM
Thursday, April 30, 2020McDermott's CB&I Storage Solutions unit will build 38 tanks and 13 spheres throughout Saudi Arabia.

McDermott's Cameron LNG Begins Final Stage of Train 3
Friday, April 24, 2020The project includes a projected export capacity of about 1.7 billion cubic feet per day.

India Subsea Project Achieves First Gas
Thursday, April 02, 2020India's ONGC has achieved early first gas on its 98/2 Block Project in the Krishna Godavari Basin in the Bay of Bengal.

BHP Awards McDermott FPU Contract
Tuesday, March 31, 2020The Trion field is located approximately 112 miles offshore Mexico just south of the U.S./Mexico border.

Chevron Lummus Global Snags Asia Refinery Contract
Thursday, March 26, 2020The McDermott-Chevron JV will provide the license, engineering and supply of catalyst and equipment for the new base oil unit.

McDermott's Chapter 11 Plan, Lummus Sale Gets Court Approval
Monday, March 16, 2020The company will complete a restructuring transaction that will eliminate over $4.6 billion of debt.

Mozambique LNG Contract Goes to Air Products
Monday, March 16, 2020This photo shows a completed LNG heat exchanger manufactured at Air Products' Port Manatee, Fla., facility being loaded onto a carrier at the Port of Manatee for a customer. Source: Air Products and Chemicals, Inc.

McDermott's Train 3 of Freeport LNG Hits Final Stage
Wednesday, March 11, 2020This includes the introduction of feed gas into Train 3 of the liquefaction export facility.

McDermott to Sell Lummus to Private Equity Firms
Wednesday, March 04, 2020McDermott plans to proceed with a previously announced $2.75B deal to sell its Lummus Technology business to a pair of private equity firms.

McDermott Starts Construction at Aramco Maritime Complex
Wednesday, February 26, 2020Dignitaries pose for a photo before breaking ground on McDermott's new fabrication facility in Ras Al-Khair, Saudi Arabia. PHOTO SOURCE: PRNewsfoto/McDermott International, Inc.

McDermott Awarded Permian Storage Contract
Thursday, February 13, 2020The award will be reflected in McDermott's 4Q 2019 backlog.

McDermott Wins Large SURF BHP Contract
Thursday, February 06, 2020The project is expected to be completed in August 2020.

McDermott to Seek Bankruptcy and Sell Lummus Unit
Tuesday, January 21, 2020The company will file for bankruptcy after it reached an agreement with creditors to tackle debt acquired through a botched acquisition.

McDermott Hits Freeport LNG Milestone
Friday, January 17, 2020Train 2 at Freeport LNG has begun commercial operations, engineering and construction contractor McDermott reported Friday.

McDermott in Talks With Lenders, Shares Fall
Tuesday, December 31, 2019McDermott International Inc. shares fell for a second day after reports that the company is negotiating with lenders ahead of a bankruptcy filing that could come within weeks.

The 2019 Downstream Countdown: The Final Five
Monday, December 30, 2019US crude oil exports and new construction projects were some of the most popular topics.

The 2019 Downstream Countdown: 10 to 6
Friday, December 27, 2019In this installment of Rigzone's 2019 downstream countdown, you will likely detect themes of growth as well as contraction.

Louisiana LNG Unit Starts Production
Monday, December 23, 2019Another liquefaction train at Cameron LNG has begun production.

McDermott Receives Delisting Warning
Friday, December 13, 2019McDermott received a notice from the NYSE stating the average closing price of the company's shares of common stock had dropped below $1 per share for 30 consecutive trading days.

Another Gulf Coast LNG Project Hits Milestone
Tuesday, December 10, 2019Train 1 of Freeport LNG has begun commercial operations.

McDermott and Chiyoda Mark LNG Project Milestone
Monday, December 02, 2019Cameron LNG loads the first commissioning cargo from Train 1 of the export project in Hackberry, La., on May 28, 2019. PHOTO SOURCE: Sempra Energy.

McDermott Awarded Tech, Engineering Contracts in Russia
Monday, November 18, 2019The processing plant will be comprised of two ethylene cracking facilities, each with an annual capacity of 1.4 million tons.

McDermott Names New CFO
Tuesday, November 05, 2019McDermott reported Tuesday that it has named Chris Krummel as the company's new executive vice president, CFO, effective immediately.

McDermott to Conduct Study for $850MM Refinery
Wednesday, October 30, 2019McDermott would be the exclusive contractor upon final investment decision.

McDermott Turns Over Platform to Pemex
Monday, October 28, 2019The platform's substantial completion milestone means that Pemex can begin commercial operations.

McDermott Wins Africa Subsea Contract
Thursday, October 24, 2019A rendering of the Greater Tortue Ahmeyim LNG Development. IMAGE SOURCE: BP plc

McDermott Receives Financing But its Outlook Remains Uncertain
Monday, October 21, 2019McDermott International Inc. secured $650 million of new financing from lenders to keep itself afloat, though the withdrawal of its 2019 outlook and high debt costs dragged its shares and bonds back down.

Offshore Myanmar Contract Goes to McDermott
Tuesday, September 24, 2019McDermott has won a FEED contract for the Shwe Phase 3 gas field development offshore Myanmar.

McDermott May Sell Lummus
Friday, September 20, 2019McDermott is considering selling all or part of its Lummus Technology business.

McDermott Stock Collapses as it Aims to Improve Capital Structure
Wednesday, September 18, 2019Oil and gas engineering firm McDermott International, Inc. saw its shares plummet by about 69 percent Wednesday afternoon.

Gulf Coast Contract Goes to McDermott
Monday, August 12, 2019McDermott will provide FEED services for new US Gulf Coast plant.

Saudi Aramco Awards Offshore Contract
Thursday, August 01, 2019McDermott will provide a PDM in the Hasbah gas field.

Subsea Contracts Go to McDermott and BHGE
Wednesday, July 31, 2019McDermott and BHGE will collaborate to expand existing Ichthys LNG subsea facilities.

Total Awards Oman Contract to McDermott
Monday, July 15, 2019Total and Oman Oil aim to establish the Middle Eastern country as a regional LNG bunkering hub.

Qatar Petroleum Awards North Field Contract
Thursday, July 11, 2019The contract calls for FEED work for offshore wellhead platforms, pipelines and cables.

Offshore Saudi Mega-Contracts Go to McDermott
Wednesday, July 10, 2019Saudi Aramco has awarded McDermott two Marjan contract packages.

Cyclones Fail to Deter India Subsea Work
Wednesday, July 03, 2019McDermott used its derrick lay vessel DLV 2000 to perform its first S-lay piggy-back pipelay. PHOTO: PRNewswire

Saudi Aramco Awards Offshore Contract
Monday, June 24, 2019The work will take place in the Marjan and Zuluf fields.

Cameron LNG Marks Transition
Tuesday, April 16, 2019Cameron LNG Train 1. SOURCE: McDermott

Chevron-McDermott JV Wins India Contract
Wednesday, April 03, 2019The contract calls for licensing and basic design of a delayed coker.

Offshore Jackets and Topsides Contract Goes to McDermott
Thursday, March 21, 2019The work is expected to take 34 months to complete.

McDermott Wins Russia Ethylene Tech Contract
Wednesday, March 20, 2019McDermott will license a 650-kta ethylene plant.