McDermott Opens New 300-Person Office in Kingdom of Saudi Arabia
November 01 2016 - 8:30AM
McDermott International, Inc. (NYSE:MDR) (“McDermott”) announced it
has opened a new office in Al Khobar, Saudi Arabia, with the
ability to add 300 staff to its existing workforce in the Kingdom.
A photo accompanying this announcement is available at
http://www.globenewswire.com/NewsRoom/AttachmentNg/01e98c1e-bbdf-46f4-9a86-1838f275d50c
The new office expands McDermott’s engineering capacity in the
region and will enhance its offering in Saudi Arabia.
“The opening of our new office further solidifies our leadership
in the area and our commitment to Saudi Arabia,” said Linh Austin,
Vice President, Middle East and Caspian. “This new office expands
our current capability in Kingdom and for the region and increases
support to our customers, particularly in brownfield work.”
“This is just one of several initiatives demonstrating
McDermott's continued commitment to the Saudi market and the
In-Kingdom Total Value Add (IKTVA) Program,” added Austin.
The office opening follows McDermott’s recent Dammam yard
inauguration and recruitment drive in Al-Khobar, where the Company
interviewed and assessed more than 600 Saudi craftsmen to support
IKTVA localization objectives.
McDermott has an extensive history of executing complex EPCI
projects offshore Saudi Arabia and is committed to supporting the
continued growth of oil and gas production in the Kingdom. Through
decades of regional experience and intimate knowledge gained of
field conditions, McDermott’s Saudi operation has been established
as a brownfield center of excellence.
About McDermottMcDermott is a leading provider
of integrated engineering, procurement, construction and
installation (EPCI) services for upstream field developments
worldwide. The Company delivers fixed and floating production
facilities, pipelines and subsea systems from concept to
commissioning for complex offshore and subsea oil and gas projects
to help oil companies safely produce and transport hydrocarbons.
Our customers include national and major energy companies.
Operating in approximately 20 countries across the world, our
locally focused and globally integrated resources include
approximately 12,400 employees, a diversified fleet of specialty
marine construction vessels, fabrication facilities and engineering
offices. We are renowned for our extensive knowledge and
experience, technological advancements, performance records,
superior safety and commitment to deliver. McDermott has served the
energy industry since 1923. As used in this press release,
McDermott includes McDermott International, Inc. and its
subsidiaries and affiliates. To learn more, visit our website at
www.mcdermott.com.
Forward-Looking StatementIn accordance with the
Safe Harbor provisions of the Private Securities Litigation Reform
Act of 1995, McDermott cautions that statements in this press
release which are forward-looking, and provide other than
historical information, involve risks, contingencies and
uncertainties that may impact McDermott's actual results of
operations. These forward-looking statements include, among other
things, statements about the expected benefits arising from the
opening of the Al Khobar, Saudi Arabia office and McDermott’s
continued commitment to the Saudi market and IKTVA program.
Although we believe that the expectations reflected in those
forward-looking statements are reasonable, we can give no assurance
that those expectations will prove to have been correct. Those
statements are made by using various underlying assumptions and are
subject to numerous risks, contingencies and uncertainties,
including, among others: adverse changes in the markets in which we
operate or credit markets, our inability to successfully execute on
contracts in backlog, changes in project design or schedules, the
availability of qualified personnel, changes in the terms, scope or
timing of contracts, contract cancellations, change orders and
other modifications and actions by our customers and other business
counterparties, changes in industry norms and adverse outcomes in
legal or other dispute resolution proceedings. If one or more of
these risks materialize, or if underlying assumptions prove
incorrect, actual results may vary materially from those expected.
For a more complete discussion of these and other risk factors,
please see McDermott's annual and quarterly filings with the
Securities and Exchange Commission, including its annual report on
Form 10-K for the year ended December 31, 2015 and subsequent
quarterly report on Form 10-Q. This press release reflects
management's views as of the date hereof. Except to the extent
required by applicable law, McDermott undertakes no obligation to
update or revise any forward-looking statement.
McDermott International, Inc.
Investor Relations
Kathy Murray
Vice President, Treasurer and Investor Relations
+1 281.870.5147
kamurray@mcdermott.com
Media Relations
Adam Morgan
Director, Global Communications
+1 281.253.9005
amorgan@mcdermott.com
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