McDermott Awarded Subsea Umbilical and Flowline Installation Contract for the Lucius Field
May 09 2018 - 7:30AM
McDermott International, Inc. (NYSE:MDR) announced today a contract
award from Anadarko Petroleum Corporation for subsea umbilical and
flowline installation in support of a tieback to Anadarko-operated
Lucius field located 275 miles southeast of Galveston, Texas, in
the U.S. Gulf of Mexico.
McDermott will provide engineering, fabrication, installation
and pre-commissioning of subsea infield flowlines, production
umbilicals and related subsea equipment.
“We appreciate Anadarko’s confidence in our experience and
ability to deliver this project on schedule with the highest
quality in the Gulf of Mexico,” said McDermott Vice President for
the Americas, Europe and Africa Scott Munro.
The Lucius Subsequent Development is a subsea tieback to the
Anadarko-operated Lucius spar, located in Keathley Canyon 875
block. The new development is in approximately 7,400 feet of water
at Keathley Canyon 919 block.
McDermott’s operating center in Houston, Texas, will perform
project management and engineering. The flowlines will be
fabricated at McDermott’s spoolbase facility in Gulfport,
Mississippi.
The contract award will be reflected in McDermott’s second
quarter 2018 backlog.
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 11,800 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 scope and execution of the
project 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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