McDermott to Self-Perform Diving Scope for SAPREF Refinery in South Africa and BP Angelin Project in Trinidad and Tobago
May 02 2018 - 09:00AM
McDermott International, Inc. (NYSE:MDR) today announced it will
self-perform air and saturation diving on two key projects in the
Americas, Europe and Africa region, which builds off McDermott’s
vertically integrated model of project execution.
McDermott was awarded a sizeable* contract to remove and replace
a single 24 inch (61 centimeters) subsea hose string to a single
buoy mooring (SBM) and pipeline end manifold (PLEM) for Southern
Africa’s largest crude oil refinery operated by SAPREF, located
about 1.5 miles (2.5 kilometers) off the coast of Durban, South
Africa.
McDermott will conduct a scheduled critical saturation and air
diving campaign in early May from the multi-purpose vessel, Amazon,
which will function as a diving support vessel for the project. The
project marks an operational return to Africa for McDermott.
McDermott’s global diving team will also support the pipeline
installation and pre-commissioning work for the BP Trinidad &
Tobago, LLC (bpTT) Angelin project, located 25 miles (40
kilometers) off the east coast of Trinidad and Tobago. McDermott
has an engineering, procurement, construction, installation and
commissioning (EPCIC) contract from bpTT for the Angelin gas
field.
McDermott will use a mix of McDermott divers and local
Trinidadian divers to perform the diving activities. The divers
will work off the Diving Support Vessel (DSV) Da Vinci, contracted
by McDermott on bare boat charter from Boskalis. McDermott
diving operations include: free flooding the pipeline; barrier
testing; metrology and 26-inch (66 centimeters) spool tie-in at the
new platform and at the Serette facility; pre-commissioning support
for pigging, hydrotesting and de-watering of the pipeline and free
span rectification. The dive team will use the DSV with support
from local Trinidadians for the planned month-long campaign.
McDermott's DLV 2000 will install the platform and pipeline, which
is due to arrive in Trinidad in the third quarter of this year and
expected to be installed in the fourth quarter.
“McDermott has a superb safety diving record with a strong
reputation for delivery and outstanding results,” said Scott Munro,
McDermott’s Vice President of Americas, Europe and Africa. “While
we progress the project to upgrade the Amazon to support the
ultradeepwater market with planned modifications to its pipelay
system, the SAPREF project was a great opportunity to use the
versatility of the Amazon and our diving teams to meet a critical
need for the South African refinery. On the Angelin project, we are
now getting ready for the next critical phase using our experienced
divers and DLV 2000 crew to perform the installation work in this
region.”
McDermott's diving function provides a variety of in-house
underwater services in support of engineering, procurement,
construction, installation and commissioning (EPCIC) execution
projects such as pipe and cable lay, demolition and installation of
spool pieces, risers, platforms and other structures. These
operations are performed from McDermott's derrick barges, subsea
construction vessels and DSV's.
Catering to both shallow and deepwater operations, McDermott
maintains 12 mixed gas packages (MGP's), 5 saturation diving
spreads and a large inventory of portable equipment. The MGP's are
used for depths of up to 100 feet (30 meters) while the diving
spreads can be used in depths of up to 984 feet (300 meters).
*-McDermott defines a sizeable contract as between USD $1
million and USD $50 million.
About McDermott
McDermott is a leading provider of integrated engineering,
procurement, construction and installation (“EPCI”), front-end
engineering and design (“FEED”) and module fabrication services for
upstream field developments worldwide. McDermott delivers fixed and
floating production facilities, pipelines, installations 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 11,600 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,
and shares of its common stock are listed on the New York Stock
Exchange. 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 StatementsIn 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 value, scope, execution and
timing of the projects discussed in this press release. 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, 2017 and subsequent
quarterly reports 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 RelationsTy Lawrence Vice President,
Investor Relations +1 281.870.5147 tplawrence@mcdermott.com
Global Media RelationsEd MemiManager,
Communications+1 281.870.5943ememi@mcdermott.com
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