McDermott Clinches EPCI Project Offshore India

McDermott announced that one of its subsidiaries has won an engineering, procurement, construction and installation ("EPCI") project for Oil and National Gas Corporation's ("ONGC") Cluster 7 Development Program. The value of this award will be included in McDermott's third quarter 2011 backlog.

The EPCI project includes five wellhead platforms in the Mumbai High field, located 210 kilometers west of Mumbai city.

"I believe our ability to provide a sound technical solution, backed by our in-house turnkey EPCI capabilities, helped to secure this award," said Stephen M. Johnson, McDermott's Chairman, President and Chief Executive Officer. "Our company's long history with ONGC began in 1976 with the installation of the first Mumbai High offshore platforms. We look forward to working again for ONGC and further strengthening our relationship on this and future projects."

Engineering has commenced in McDermott's Chennai and Dubai Engineering offices and approximately 20,000 tonnes of facilities will be fabricated at the company's yard in Jebel Ali. Offshore mobilization using vessels from McDermott's global fleet will commence in late 2012.