J. Ray McDermott Awarded Woodside's North Rankin B Jacket

McDermott International, Inc., announced that a subsidiary of J. Ray McDermott, S.A. was awarded a contract to construct the North Rankin B ("NRB") Platform Substructure and Piles by Woodside Energy Limited for the North Rankin Redevelopment Project.

The scope of work for this contract includes the fabrication and loadout of the 22,000 metric ton jacket (including buoyancy tanks), 18,900 metric tons of piles and the bridge link (approximately 100 meters long) to the North Rankin A Platform. Contracts of this nature are typically valued in excess of $100 million, which was included in McDermott's backlog at December 31, 2007.

"Completing the NRB substructure will be a major milestone for our Batam Island, Indonesia facility, as this will be the largest jacket ever built in the Southeast Asia region," said Bob Deason, President & Chief Executive Officer of J. Ray. "This award confirms our strong working relationship with Woodside. Their decision to award this project underscores Woodside's confidence in J. Ray's ability to deliver large structural projects on time."

The North Rankin Redevelopment Project will provide additional compression to unlock low pressure reserves from the North Rankin and Perseus gas and condensate fields off Karratha, Western Australia.

The NRB project, once completed will ensure continued gas supplies to the North West Shelf Venture's liquefied natural gas (LNG) facilities.

Construction work will be performed at J. Ray's facility on Batam Island, Indonesia and is expected to begin in the fourth quarter of 2008. At the peak of construction activities, 1,300 people are expected to work on the project.

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