McDermott to Build, Install Platform for Arena's 'Riker' Prospect

McDermott International, Inc. announced Friday that one of its subsidiaries was awarded a contract by Arena Offshore, LP for construction and installation of a platform for Arena's "Riker" Prospect, located at Eugene Island Block 338 in 275 feet of water.

The company's Morgan City fabrication facility will handle construction, assembly, testing, coating, load out and tie down of a four-pile jacket for a bottom-founded platform named EI 338 "K". The jacket is designed to accommodate 20 well slots and once complete, the platform will have full processing capabilities, supporting a self-contained drilling rig. The jacket and piles are expected to weigh approximately 3,600 tons, and the platform will have the capacity to produce 20 MMSCFD, 7500 BOPD, and 12,500 BWPD.

"We are delighted at the award of this new project to our Morgan City facility," said Stephen M. Johnson, McDermott's President and Chief Executive Officer. "Our ability to offer a combined fabrication and installation solution with our construction vessel DB50 is what secured this contract. We look forward to building our relationship with Arena through this project."

First steel for the EI 338 "K" jacket is expected to be cut during the third quarter of 2011. McDermott's offshore installation work will generally consist of installing the EI-338 "K" jacket and piles, relocating refurbished topsides to EI-338 "K", installing a platform drilling rig onto the EI-338 "K" structure, and removing and reefing a platform jacket. The offshore campaign is scheduled for the second quarter of 2012.

McDermott is a leading engineering, procurement, construction and installation ("EPCI") company focused on executing complex offshore oil and gas projects worldwide. Providing fully integrated EPCI services for upstream field developments, the Company delivers fixed and floating production facilities, pipelines and subsea systems from concept to commissioning. McDermott's customers include national and major energy companies. Operating in more than 20 countries across the Atlantic, Middle East and Asia Pacific, the Company's integrated resources include more than 16,000 employees and a diversified fleet of marine vessels, fabrication facilities and engineering offices. McDermott has served the energy industry since 1923.