MDR McDermott International Inc

McDermott International, Inc. (NYSE:MDR) (�McDermott�), announced today that subsidiaries of J. Ray McDermott, S.A. (�J. Ray�) were recently awarded an engineering, procurement, construction and installation (�EPCI�) contract by Chevron Thailand Exploration and Production for the Platong Gas II Project in the Gulf of Thailand. The contract encompasses the full EPCI scope associated with the project�s central processing platform, representing a float-over deck weight of approximately 19,000 metric tons. Additional work in the contract includes J. Ray providing EPCI services for the associated living quarters platform, flare tripod and three bridges. �We are delighted to receive this substantial award, which signifies the beginning of a new relationship between J. Ray and Chevron in the region,� said Bob Deason, Chief Executive Officer of J. Ray. �With our engineering and procurement capabilities in Singapore, our fabrication facility in Indonesia, and our regional marine construction vessels, the Platong Gas II Project takes full advantage of J. Ray�s extensive capabilities and experience.� Engineering for this project has commenced at J. Ray�s Singapore office, and installation is expected in the Gulf of Thailand by the end of 2010. McDermott is an engineering and construction company, with specialty manufacturing and service capabilities, focused on energy infrastructure. McDermott�s customers are predominantly utilities and other power generators, major and national oil companies, and the United States Government. With its global operations, McDermott operates in over 20 countries with more than 20,000 employees, and can be found on the internet at www.mcdermott.com. In accordance with the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995, McDermott International Inc. cautions that statements in this press release which are forward-looking and provide other than historical information involve risks and uncertainties that may impact McDermott's actual results of operations. The forward-looking statements in this press release include, among other things, the expected work scope and timing of the Chevron Platong Gas II Project. Although McDermott's management believes that the expectations reflected in those forward-looking statements are reasonable, McDermott can give no assurance that those expectations will prove to have been correct. Those statements are made based on various underlying assumptions and are subject to numerous uncertainties and risks, including without limitation, change orders, project schedule adjustments and other modifications and other revisions to the contract. 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 risk factors, please see McDermott's annual report for the year ended December 31, 2007 filed with the Securities and Exchange Commission.