J. Ray McDermott Wins Pipeline Project in Vietnam

McDermott International, Inc. stated that a subsidiary of J. Ray McDermott, S.A. ("J. Ray") has been awarded a contract by PV Gas for the new 16" Su Tu Vang to Rang Dong Gas Pipeline in the Cuu Long Basin.

The offshore installation work will be performed in 2008 using one of J. Ray's Asia Pacific-based combination derrick/pipelay barges. The first gas production into the new pipeline is targeted on or before October 15, 2008.

"This is the first opportunity for J. Ray to work directly with PV Gas in Vietnam. J. Ray is delighted at being selected for this fast track contract and we look forward to extending our record of completing projects in Vietnam to our customer's full satisfaction," said Bob Deason, Chief Executive Officer of J. Ray.

J. Ray's scope of work includes engineering, procurement and installation of approximately 45 kilometers of 16" subsea pipeline originating at the outlet flange of the subsea isolation valve at Cuu Long Joint Operating Company's Su Tu Vang Central Processing Platform and ending at Japan Vietnam Production Company's Rang Dong platform. A new subsea pipeline end manifold will be installed to connect the new pipeline to the existing Rang Dong to Bach Ho pipeline system.

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