J. Ray McDermott Wins Contract Offshore India

J. Ray McDermott has begun preparations for a turnkey project for supply of wellhead platforms and submarine pipelines, offshore India. The company recently received a letter of intent from Engineers India Limited (EIL) for the Engineering, Procurement, Construction and Installation (EPCI) of two well head platforms and 11 infield submarine pipelines, totaling 56kms, for the ONGC Bombay High North Field. This contract, worth over $84 million, is part of ONGC's $640 million second phase redevelopment of the offshore field.

"J. Ray McDermott has worked with EIL in the past on several projects in the Bombay High Field," said Kurt Nelson, vice president and general manager of J. Ray McDermott's Eastern Hemisphere operations. "The specialized teaming of the two companies provides a powerful mix of international industry experience with Indian public sector, which has proved the winning formula in securing this important project in the face of stiff international and local competition," he continued.

Fabrication of the two wellhead platforms will begin in August 2002, at the company's Dubai based fabrication yard at Jebel Ali. The combined weight of the two platforms is approximately 5,700 tons. Offshore installation work is scheduled to commence December 2002.