J. Ray Wins Offshore Qatar Contract

McDermott International, Inc.

McDermott International, Inc. said that a subsidiary of J. Ray McDermott, S.A. recently won a contract from ExxonMobil Middle East Gas Marketing Ltd. to provide engineering, procurement, construction, and installation (EPCI) services for two wellhead platforms and pipelines as part of the Al Khaleej Gas (AKG) Development Phase 2 Offshore Expansion Project. Contracts of this type are typically valued at more than US$300 million.

The overall project requires J. Ray to provide EPCI services for two remote unmanned wellhead platforms, WH10 and WH11. The jackets were previously awarded to J. Ray as part of the Al Khaleej Gas Development Phase 1 Offshore Expansion Project. Under the new AKG Phase 2 project, J. Ray will also perform EPCI of two intra-field pipelines that will connect the platforms with two 38-inch wet-gas export trunk-lines.

WH10 and WH11 will be connected to the existing RasGas Alpha Complex by two separate composite power and fiber optic subsea communications cables.

Engineering will be carried out at J. Ray's engineering offices in Jebel Ali. Construction will begin by May 2007 at J. Ray's Jebel Ali yard, with installation of WH10 and WH11 scheduled for completion during 2009.

McDermott International, Inc. is a leading worldwide energy services company. McDermott subsidiaries provide engineering, construction, installation, procurement, research, manufacturing, environmental systems, project management, and facility management services to a variety of customers in the power and energy industries.